Tesla's Pre-Market Drop

Tesla shares experienced a significant 6% drop in premarket trading this Thursday. This downturn follows President Donald Trump's announcement of extensive global tariffs, including specific levies on foreign cars, a move CEO Elon Musk had previously cautioned would significantly impact the company.

Aftermath of a Brief Rally

This decline comes on the heels of a 5% stock increase the previous day, spurred by reports of Musk stepping down from his advisory role in the Trump administration. Despite this, Tesla also revealed its first-quarter 2025 deliveries fell short of analyst expectations.

Current Trading Status

By 8:02 am ET, Tesla was trading 6.34% lower, with shares priced at $264.78.