Tesla Shares Fall 5% Premarket, Extending Losses From 8% Drop Earlier This Week

Benzinga

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.

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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.

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