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Tesla’s stock is dropping, but not because of the protests.
The company’s value dropped below $1 trillion for the first time since last November, causing anti-Elon Musk protesters to celebrate on Bluesky. But the losses don’t appear to have much to do with the demonstrations, which only started earlier this month.
Tesla’s sales numbers in Europe are down-right atrocious, thanks to inventory shortages after an all-out sales push at the end of 2024 and factory changes for the Model Y, its most popular vehicle. This is not to say that Musk’s advocacy for far-right political parties in Europe isn’t also having an effect. People really seem to hate that!
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