It's true that Tesla shares recently declined, but the context is important: during 2022-2024 Tesla shares were trading between $100 and $300 (with high volatility), in October 2024 they were at $200-$250, then after elections they skyrocketed to the all time high of $488 (for no fundamental reason), and since then the stock is falling. It's $263 right now - after the latest declines the stock only returned to the price that's still higher than before the elections, and is higher than the 2022-2024 average (which was already unreasonably high and totally disconnected from earnings). So these declines are nothing, at least not yet.
FWIW there was a fundamental reason for shares to spike after the election: The elected regime was one that is very corrupt and self-serving, and was likely to do everything in its power to make money flow towards the companies it owns.
By now, though, it's seeming more like they're too incompetent to do that. They'll probably still do it, but they'll crash the whole economy at the same time so the money that's flowing to Tesla won't be worth a whole lot. But it was a reasonable prediction at the time.
