Tesla's stock drops 15%, Musk loses $22.8 billion

Tesla's stock dropped over 15% on Monday, marking its worst loss since 2020. This decline wiped out significant gains, with Elon Musk losing $22.8 billion in net worth. The drop was attributed to investor concerns amid broader market instability. Musk's social media platform, X, experienced outages, which he linked to a cyberattack. He also faced backlash for calling Senator Mark Kelly a "traitor" after Kelly's support for Ukraine. A federal judge ordered Musk's agency to improve transparency regarding DOGE. On Tuesday, Tesla shares rebounded slightly, gaining up to 6% before settling at a 1% increase. Despite this, Tesla remains the worst-performing company on the S&P 500 in 2025, with a nearly 45% decline year-to-date.