Tesla shares drop 15%, reaching pre-election levels

Tesla shares dropped 15% on Monday, closing below their Election Day level for the first time. This decline marks the seventh consecutive week of losses for the company, with shares down 55% since a record high in December. Investor concerns about CEO Elon Musk's role in the Trump administration and weak sales figures have contributed to the stock's decline. Recent sales data from China and Europe has also been disappointing, adding to the negative sentiment. The stock fell below the 200-week moving average, with key support levels around $215 and $165. Resistance levels to watch are near $265 and $300, as investors monitor the stock's volatility.