Tesla rode a wave of enthusiasm and unrealistic expectations that resulted from massive amounts of government funded leftist eco-loon propaganda. Musk is a very capable person who was at the right place at the right time. But now that reality is finally starting to smack early adopters in the face and others are starting to notice... Every manufacturer who has a large stake in EVs is going to be losing incredible amounts of money.
Tesla stock went from $407 a share in November of 2021 to $183 a share in January of 2024 little more than 2 years later. There has been a slight rally since, but the trend is still obvious. These glorified self-driving golf carts are not a good solution for most people's transportation needs. The hype is wearing off and people have started to notice.
Tesla went to a low of $112/share last year. The guy next to me bought some at $120.
At the time I was waiting for it to break $100/share to buy in. I had an order in, but it expired.
There are only so many Starbuck moms to buy EVs.