Media and Entertainment Media and Entertainment

Tesla shares have plunged while Musk takes on Washington. Is that the reason?


Published on 2025-02-13 13:40:54 - ABC
  Print publication without navigation

  • Shares of Elon Musk's Tesla electric car company have fallen sharply, leading some investors to wonder if the drop is related to his cost-cutting work in Washington.

Tesla shares experienced a significant drop, falling over 5% in premarket trading, following Elon Musk's visit to Washington, D.C. to meet with key political figures. Musk's discussions included meetings with House Speaker Kevin McCarthy and other lawmakers, focusing on electric vehicle (EV) policies and regulations. This visit comes at a time when Tesla is navigating through various challenges, including increased competition in the EV market, regulatory scrutiny, and Musk's own controversial public statements. The stock's decline reflects investor concerns about the outcomes of these meetings and their potential impact on Tesla's business environment, especially in light of the company's recent price cuts and ongoing efforts to maintain its market position.

Read the Full ABC Article at:
[ https://abcnews.go.com/Business/tesla-shares-plunged-musk-takes-washington-reason/story?id=118764267 ]
Similar Media and Entertainment Articles
[ Fri, Feb 07th ] - MSN
[ Fri, Dec 13th 2024 ] - MSN