Tesla's stock is experiencing a decline today, influenced by several factors. Concerns have emerged regarding CEO Elon Musk's interactions with Russia, as highlighted by the U.S. Air Force Secretary, which may be unsettling investors. Additionally, the recent resignation of Song Gang, the manager of Tesla's Shanghai plant, has added to the uncertainty. This departure coincides with a stalled expansion plan for the Shanghai facility, which is a significant production hub for Tesla.
Moreover, the political landscape is also impacting Tesla's stock. Analysts have expressed concerns that the recent election results, which saw Donald Trump winning, might not be as beneficial for Tesla as previously anticipated. This sentiment is echoed by Barclays, which suggests that the regulatory environment under a Trump administration could pose challenges for Tesla, particularly in the realm of electric vehicle mandates and autonomous driving technologies.
Tesla's stock is currently trading at $460.74, down 3.98% from its previous close of $479.86, and has decreased by 1.21% from its opening price of $466.36.