Tesla’s stock is experiencing its longest losing streak since the company went public, with shares declining for seven consecutive weeks following Elon Musk’s visit to Washington, D.C. to join the Trump administration.
On Friday, Tesla shares closed at $270.48, marking their lowest level since Election Day (Nov. 5), when they stood at $251.44. Over the past two months, Tesla’s market capitalization has dropped by over $800 billion, down from its peak of nearly $480 per share on Dec. 17.
Musk’s Political Role Sparks Controversy
Before becoming Trump’s advisor and head of the Department of Government Efficiency (DOGE), Musk was already leading his numerous ventures, including AI startup xAI, social media company X, and aerospace giant SpaceX.
Now, as the public face of the administration’s push to reduce the federal workforce and spending, Musk has drawn sharp criticism.
His controversial political rhetoric on X, including attacks on judges and promoting Kremlin-backed narratives about Ukraine’s President Zelenskyy, has fueled growing backlash.
Tesla Faces Rising Anti-Musk Sentiment
Anti-Musk and anti-Tesla protests have surged across the U.S. and Europe, with incidents of vandalism and arson targeting Tesla facilities.
Even Tesla’s most bullish analysts and loyal fans are acknowledging the negative impact of Musk’s politics on the company’s reputation and stock performance.
Despite this, Tesla supporters remain optimistic about upcoming developments, including affordable new EV models, robotaxis, driverless ride-hailing services, and humanoid factory robots.
Analyst Dan Ives predicts Musk will shift focus back to Tesla and his other ventures by the second half of 2025.