As he continues to serve as the unelected president of the United States and guide policy on multiple levels in the Trump administration, Tesla Motors CEO Elon Musk is losing a cool fortune in the stock market as more investors dump their holdings in his electric vehicle company.
That’s the news from investment expert Steve Rattner, who explained what’s happening to Musk and Tesla on MSNBC earlier this morning.
At a time when EV sales are increasing, Rattner noted, sales of Teslas are dropping precipitously.
Referencing an onscreen graph, Rattner elaborated:
“See here that Tesla in its early years had huge sales increases, as you would expect, very popular. One of the few makers of really good electric vehicles (EV) in the country. But beginning in 2025. its sales kind of stagnated, a combination of really two reasons. One, some competition, more competition from other people trying to get in the business, including domestic manufacturers and also the fact that people are getting their models Y and S, two of their most popular models, are getting a little bit long in the tooth, so to speak.”
Tesla had a “…huge run up because people thought that Musk was simply going to be a great beneficiary of the federal government’s largesse. And then you can see that, along with all the chaos and commotion and Trump’s own personal issues, you can see Tesla stock’s gone all the way back down,” Rattner concluded.
