Tesla’s stock dropped 15% in one day, causing Elon Musk to lose $29 billion. The big dip came from worries about the economy, rising competition—especially in China—and political drama linked to Musk. Tesla’s sales in China dropped nearly 50%, and many investors got nervous.
Musk’s ties to Trump and a controversial government role sparked protests and more concerns about Tesla’s image. Some feared it could hurt the company’s brand. Musk defended his actions but admitted he’s feeling the pressure.
Despite the hit, Musk is still the richest person in the world. But the massive loss shows how fast fortunes can change in the tech world. With growing competition and market pressure, all eyes are on Tesla’s next move—and Musk’s next bold plan.
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