Tesla’s stock has dropped despite the company’s claim to being made in America. The reason lies not with Tesla itself but with broader market sentiment, which is triggered by global trade tensions and President Trump’s tariff plans.
While most experts believe that tariffs on Canadian and Mexican products would be short-lived, their impact on the US auto and parts industries is significant nonetheless. On Monday, Mexico was initially affected, but later received a reprieve. Canada followed suit shortly after.
The uncertainty surrounding these tariffs has sent shockwaves through the market, causing investors to become risk-averse and sell off stocks across various sectors, including Tesla’s.
Source: https://www.marketwatch.com/story/tesla-cars-are-u-s-made-so-why-is-teslas-stock-is-down-so-much-32e78c23