Elon Musk Thinks Tesla Will Become the World's Most Valuable Company. I Predict Its Stock Will Decline by 50% (or More) Instead.
This is an administration that lives by the markets and dies by them, and Wall Street now fears the economy is in a Trump slump.
Instead of the $2 trillion in cuts over the next decade that Musk recently touted at a Wall Street conference, the chatter inside Team Trump is that they think the Department of Government Efficiency can reduce waste by $500 billion, according to people with knowledge of the matter.
Elon Musk's close ties to President Trump is alienating some motorists. Wall Street analysts say that could hurt Tesla.
Tesla stock is down 46% below its December 2024 high, notes CNBC, a $677 billion loss in market value. Last year Tesla shipments fell as Musk's DOGE work hurts the brand.
Tesla shares have declined for seven weeks amid Elon Musk's political involvement with the Trump administration, sparking investor concerns. Wall Street firms lowered price targets, citing sales challenges,