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Home Business Mobility

Tesla Becomes 2025’s Worst-Performing Big Tech Stock as Musk–Trump Feud Drags On

by Joan Aimuengheuwa
June 6, 2025
in Mobility
0
Tesla Becomes 2025’s Worst-Performing Big Tech Stock as Musk–Trump Feud Drags On
Tesla

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Tesla has officially become the worst-performing large-cap stock of 2025, shedding nearly 30% of its market value since January. 

The company’s decline is being driven by both falling demand for electric vehicles, leadership controversies, and a public row between Elon Musk and former U.S. President Donald Trump.

Tensions reached a breaking point when Musk, Tesla’s CEO, openly criticised Trump’s tax and spending agenda on X, the social media platform he owns. Trump retaliated on Truth Social, warning that federal contracts with Musk’s companies could be cancelled. 

That single threat sent Tesla shares down more than 14% on Thursday alone, the company’s worst one-day loss since 2020. Short sellers raked in an estimated $4 billion in profits from the collapse, according to Ortex data.

Tesla began the year ranked eighth globally by market capitalisation but has now fallen to tenth. The electric carmaker’s valuation has slumped to $917 billion, dragging it further down the leaderboard of global tech giants.

TD Cowen, a research firm, says the political fallout is creating fresh risks for Tesla’s U.S. sales. “35% of Tesla’s U.S. sales occur in Republican-leaning counties, 12% of which it classifies as ‘Deep Red.’ Of the 65% in Democratic areas, 36% are ‘Deep Blue.’” 

With Musk openly feuding with Republican leadership, analysts are concerned that political issues could hurt demand in key markets.

Meanwhile, Goldman Sachs has trimmed its price target for Tesla from $295 to $285, pointing to weakening deliveries across China, Europe, and the United States. The bank now expects Tesla to deliver just 365,000 vehicles in the second quarter, down from 410,000 and has maintained a ‘Neutral’ rating on the stock.

Some investors are still optimistic. TD Cowen kept a ‘Buy’ rating on Tesla, with a price target of $330, but warned that “Thursday’s events have created a higher degree of near-term uncertainty.”

The White House is reportedly attempting to calm the situation, with aides scheduling a call with Musk in a bid to ease political tensions. That news gave Tesla a brief lift on Friday, with shares rising up to 4% in pre-market trading.

Elsewhere in big tech, Apple has slipped from the top spot, falling to third place this year due to soft demand in China and renewed trade tensions. Its valuation has dropped more than 20%, landing at $2.99 trillion. Microsoft now leads the pack, driven by strong enterprise demand and adoption of its AI-powered tools.

Investor trust in Tesla has always been tied to Musk’s leadership, but that leadership has become more politically divisive and the market is reacting with caution and with retreat.

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Tags: Donald TrumpElon MuskMusk Trump feudPresident Donald TrumpTESLATesla 2025Tesla market valueTesla sharesTesla stock dropworst-performing tech stock
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

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