Tesla Stock Plunges After Trump’s Inauguration, Elon Musk Loses Billions

A few weeks after Donald Trump won the U.S. presidential election, Tesla’s stock price soared to a record USD 479 (IDR 7.87 million) per share, pushing Elon Musk’s net worth past USD 150 billion (IDR 2.5 quadrillion).

However, according to Carscoops, the situation has now changed dramatically. Since Trump’s inauguration, Tesla’s stock has plummeted over 15% in a single day on Monday (March 10), dropping to USD 222 (IDR 3.6 million)—its lowest level since last October.

This marks Tesla’s worst single-day loss since September 2020, with its stock price plunging more than 53% from its December peak. After-hours trading saw shares dip another 2.7% to USD 216 (IDR 3.5 million) before rebounding to USD 222 (IDR 3.6 million).

On Friday (March 7), Tesla reported seven consecutive weeks of losses, marking its longest losing streak since its 2010 IPO. The company’s market capitalization has now fallen nearly USD 800 billion (IDR 13.2 quadrillion) from its December peak.

Investor confidence in Musk’s leadership appears to be wavering, especially due to his deep involvement in Trump’s administration as the head of the Department of Government Efficiency (DOGE). Musk stated earlier this week that he intends to remain in the Trump administration for another year, though he admitted balancing this role with his business ventures is "challenging."

Making matters worse, X (formerly Twitter) suffered a major cyberattack on Monday, causing widespread system outages—further unsettling investors.

Declining Tesla Sales Spark Additional Concerns

Political controversy isn’t the only factor behind Tesla’s stock decline. Reports from major global markets indicate that Tesla sales are slowing, with demand for its EVs significantly weakening.

In a client note released on Monday (March 10), UBS analysts forecasted that Tesla would sell 367,000 vehicles in the first quarter of 2025—a 6% decline from the 386,810 units delivered in Q1 2024. That figure was already 9% lower than the 422,875 vehicles sold in Q1 2023.

Despite Tesla’s recent struggles, it remains the world’s most valuable automaker by market capitalization, valued at USD 696 billion (IDR 11.5 quadrillion) as of Monday (March 10). This still far exceeds legacy automakers like Ford (USD 39 billion), General Motors (USD 47 billion), and Volkswagen (USD 64 billion).

Many investors continue to view Tesla as a tech company rather than just a car manufacturer, given its advancements in artificial intelligence, autonomous driving, and humanoid robots.

So, is Tesla’s stock decline just a temporary setback, or has its era as a market cap giant come to an end? Only time will tell, but for now, Tesla’s journey appears to be more turbulent than ever.

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