What Happened? Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) fell 9.3% in the afternoon session after data from the European Automobile Manufacturers Association showed the company sold 9,945 cars in January 2025,

Shares in electric car maker Tesla have slumped more than 9% after EU and UK sales fell by almost half in January. The drop in Tesla shares took the company's valuation back below $1trn for the first time since November 2024.

Tesla's stock tumbled 8% on Tuesday, pushing its market value below $1 trillion for the first time since November after data showed the electric car maker's sales slumped in Europe in January. The European Automobile Manufacturers Association reported that Tesla sales dropped 45% in Europe,

On February 20, Tesla’s 50-day moving average shifted into a bearish trend as the telltale trendline shifted into a declining pattern. The last time Tesla’s 50-day followed a similar trend was January 24, 2024. That shift in the stock’s momentum preceded a 22% decline in Tesla shares over two-month period.

Tesla (NASDAQ:TLSA) stock has had a rough go of things over the past few weeks. Weakening EV sales and delivery numbers, increasing competition

Current prices put the auto maker’s market value below $1 trillion. The stock needed to maintain a share price of about $311 to keep that mark.