Tesla Inc. stock’s weekly losses are poised to reach 11%, its worst weekly performance since the last week of 2022, when it dropped 18%.
The stock rose on Friday though, breaking a four-session losing streak.
The stock slide came after Chief Executive Elon Musk was back in the news — for the wrong reasons.
Musk’s criticism of a laid-off Twitter employee went viral earlier in the week, and he later apologized to the employee, a technology entrepreneur and philanthropist in Iceland.
Tesla shares have lost 14% so far in March, which opened with the EV maker’s investor day.
The event was widely criticized for teasing a future cheaper Tesla without providing a production timeline and other details.
The stock has declined 37% in the last 12 months, compared with losses of around 8% for the S&P 500 index.