this post was submitted on 25 Feb 2025
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Economics

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Tesla's market cap sinks below $1 trillion as stock slumps more than 8% (www.cnbc.com)
submitted 6 days ago by MicroWave@lemmy.world to c/economics@lemmy.world
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KEY POINTS

  • Tesla shares sank 8% on Tuesday and have now lost most of their gains that followed Donald Trump’s election victory in November.
  • The stock has plunged 25% this year, while the Nasdaq is down just 1.5%.
  • Reuters reported on Monday that the company’s long-awaited upgrade of its partially automated driving system in China left owners unimpressed.
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[–] Pk_thunder@sh.itjust.works 16 points 6 days ago (2 children)

How the fuck does it even have a 1 trillion cap to begin with is beyond me

[–] HK65@sopuli.xyz 15 points 6 days ago

The owner just bought the United States

[–] jaemo@sh.itjust.works 6 points 6 days ago

Bigger fool theory.