Tesla touches a 2-year low: Twitter may not be Elon Musk’s biggest trouble

For at least the past two months, Elon Musk has been in the news for his acquisition of Twitter and the policy changes he has been making there. Thousands have been laid off, and hundreds have resigned in response at Twitter. But it is Tesla, another company run by Musk, that is making it to the headlines of late and not for very encouraging reasons.

On Tuesday, Tesla’s share price fell to its lowest in over two years. On December 27 alone, it fell 11.4 per cent to close at $109.1 apiece, as per data from Nasdaq. The company’s total market capitalisation has fallen over 70 per cent in the past year, with 67 per cent of it in 2022 alone. Data showed that from $1.06 trillion on January 1, it fell to $344.5 billion on December 28.