Tesla’s market value tumbles below $1 trillion as its Europe sales slump

By Noel Randewich

(Reuters) – Tesla’s (:StakeThe stock vibrates with 8% by 8% on Tuesday, and first time pushing its market value to $ 1 trillion for the first time in November.

The European Union’s Association has reported that Tesla’s sales in Europe fell by 45% compared to 37% of EVS sales.

Sales emphasizes the challenges of the vision last year, which puts pressure on the General Director Elon Mushk to roll over lower priced models, as well as autonomous cars.

Tesla’s shares dropped $ 305, leaving the company to market capitalization of $ 981 billion, and more than twice as many twice, Ford Motor, Volkswagen, Hyunda Motor and BMW.

Some investors are also concerned that the role of musk controls the radical decline in the Federal Government for US President Donald Trump, possibly his attention to some consumers. Musk also manages private space missile universe and other private companies.

“He is a lot of hand operator, and if you spend so much time in the office at the office, how much time do you spend all your other companies, including publicly sold?” Said in Boston b. The main strategy of the main market of Riley wealth.

Concerns about the possible investments in artificial intelligence also weigh Tesla, as well as Microsoft and Meta Platforms, before the quarterly report of AI Chip Heavyweight NVIDIA, said.

Recently, Tesla’s shares were sold 112 times anticipated earnings, average over the age of 93, according to an average of 93, LSEG reports. For comparison, Ford’s shares are estimated at eight times, and GM is near seven.

Tesla Bulls points to the company’s program to launch a new, cheap electric car and to make Musk’s promises to start paying autonomous cars.

TESLA shares remain 51% in the past 12 months on Tuesday. Annual, shares have decreased by 24%.

(Reported by Noel Randewich; Editing by Leslie Adler)