The Graniteshares 2x Long TSLA Daily ETF (TSLR) closed at $52.81 on December 18, 2024, marking a significant 15.6% decline as Tesla's stock faced substantial pressure. Tesla's stock dropped sharply, driven by the Federal Reserve's recent signals indicating fewer anticipated rate cuts, which led to a broader market downturn. The Nasdaq fell by 2% and the S&P 500 by 1.5%, reflecting the market's cautious sentiment. Tesla's valuation concerns were further exacerbated by its high price-to-earnings ratio of 120.29 and a price-to-book ratio of 20.13, indicating overvaluation. Additionally, Tesla's implied volatility surged to 90%, with increased bearish bets in the options market. The broader tech sector also experienced a pullback, with the S&P 500 dipping below 6,000 following the Fed's rate cut and new projections.