On November 14, 2024, Tesla shares fell over 8%, marking their biggest decline since Donald Trump’s election victory, despite being up 75% since November 5. Analysts expressed confusion over the stock’s disconnect from fundamentals, setting a $270 price target. This drop coincided with a broader market decline. Elon Musk, a significant Trump supporter, is poised to lead a new government efficiency initiative, raising concerns among voters about his influence. Tesla’s performance has been strong lately, but they face competition from Waymo in autonomous vehicle services. The SEC is also investigating Musk’s past stock sales. Tesla plans to report fourth-quarter deliveries in January.
