Musk’s Empire Crumbling: Tesla, X Hit Hard by Recession Fears
Tesla’s stock dropped by 15%, its worst day since September 2020, amid economic uncertainty and high interest rates. The stock has fallen every week since Elon Musk took on a major role in the second Trump White House, losing over 50% of its value since its peak in December. while his social media platform X experienced major outages. These setbacks have raised concerns about the future of Musk’s businesses amid growing recession fears.
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Tesla’s Stock Plummets: What’s Behind the Drop?
Tesla’s stock has been under pressure due to various factors, including economic uncertainty and high interest rates. The company’s recent earnings report showed weaker-than-expected revenue, which may have contributed to the stock’s decline.
Additionally, Tesla faces increased competition in the electric vehicle market, with other automakers launching new models. This competition could impact Tesla’s market share and profitability.
Repeated arson attempts and vandalism at Tesla facilities have raised concerns about demand and brand perception. Analysts suggest that these incidents could deter potential buyers.
X Faces Outages and Backlash
Elon Musk’s social media platform X is experiencing technical difficulties, with users reporting outages and glitches. These issues have led to frustration among users and have raised questions about the platform’s stability.
Musk’s leadership style has also been scrutinized, with some critics arguing that his hands-on approach is causing instability within the company. The platform’s inability to handle high traffic and technical issues has further fueled concerns about its future.
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