this post was submitted on 25 Feb 2025
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Economics

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Tesla's market cap sinks below $1 trillion as stock slumps more than 8% (www.cnbc.com)
submitted 6 days ago by MicroWave@lemmy.world to c/economics@lemmy.world
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KEY POINTS

  • Tesla shares sank 8% on Tuesday and have now lost most of their gains that followed Donald Trump’s election victory in November.
  • The stock has plunged 25% this year, while the Nasdaq is down just 1.5%.
  • Reuters reported on Monday that the company’s long-awaited upgrade of its partially automated driving system in China left owners unimpressed.
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[–] Bob_Robertson_IX@discuss.tchncs.de 8 points 6 days ago

It's almost as if the point isn't to produce anything useful, but to move money from the tax payers to the ruling class.