Elon Musk’s Tesla continues to suffer from a share price plummeting like a rock, with the company reportedly headed for its worst month, quarter, and year on record ever.
that on Tuesday, Tesla’s stock decline intensified as the shares closed down by 11 percent. The electric vehicle company, run by new Twitter owner Elon Musk, is nearing the end of its worst month, quarter, and year on record. In 2022, Tesla has beaten Facebook to achieve the dubious honor of being the worst-performing stock this year among the most valuable tech companies.
Elon Musk, chairman and chief executive officer of Tesla Motors Photographer: Daniel Acker/Bloomberg via Getty Imageswhich stated that Tesla will extend a temporary suspension of production at its Shanghai factory due to an alleged surge of coronavirus cases among its Chinese employees. According to, when the Tesla factory in Shanghai resumes operations in January, it will only be open for a period of 17 days.
Tesla’s stock has experienced a massive decline, with a drop of 73 percent from its all-time high in November 2021. In 2022, the company’s shares have decreased by 69 percent, a far greater drop than the Nasdaq’s general decline. Among major automobile manufacturers, Ford’s stock has fallen by 46 percent and General Motors has seen a decrease of 43 perfect. Prior to this year, the only other time Tesla’s stock has fallen was in 2016, with a drop of 11 percent..
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