Tesla shares dropped nearly 5% in U.S. premarket trading on Friday, extending losses from earlier week. On Wednesday, the stock fell 8%, marking its worst day since before the election. Tesla shares remain up about 65% since November 5th, driven by optimism around CEO Elon Musk’s ties to President-elect Donald Trump. Musk was a major Trump campaign donor appointed to co-lead the Department of Government Efficiency. Tesla’s Autopilot and Full Self-Driving systems remain semi-autonomous, requiring human supervision, as the company faces challenges in achieving full autonomy.
Category
🗞
NewsTranscript
00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Tesla's shares dropped nearly 5% in US pre-market trading on Friday,
00:06extending losses from earlier in the week. On Wednesday, the stock fell 8%,
00:10marking its worst day since before the election. Tesla's shares remained up about 65%
00:15since November 5th, driven by optimism around CEO Elon Musk's ties to President-elect Donald Trump.
00:21Musk was a major Trump campaign donor and was appointed to co-lead the Department
00:25of Government Efficiency. Tesla's autopilot and full self-driving systems remain semi-autonomous,
00:31requiring human supervision, as the company faces challenges in achieving full autonomy.