Elon Musk's Tesla Inc (NASDAQ:TSLA) is nursing a $180 billion dent to its valuation and could dip under the $1 trillion mark if its woes continue.
Over the last five trading days, the company has lost 15% of its value as its distracted founder has thrown himself headlong into curbing US government waste on behalf of the Trump administration.
After hours, stock in the electric car giant slid 6% amid competitive pressures from China's EV sector.
Specifically, arch-rival BYD announced a partnership with AI firm DeepSeek to develop autonomous driving technology.
The company also revealed that 21 of its new models will include advanced driver assistance features, such as automatic parking and highway navigation.
Not content with becoming the scourge of Federal inefficiency and waste (and running multiple companies), Musk is also leading a $97.4 billion bid for OpenAI, further raising concerns that his focus is spread too thin.