The post Tesla (TSLA) heads for 9th straight red week, its longest losing streak ever appeared on BitcoinEthereumNews.com.

Tesla is heading into its ninth straight weekly loss, making this its longest losing streak in history. The drop started early this year and hasn’t stopped. As of this week, shares are down 42% in 2025, wiping out every gain the company made after the presidential election. That’s according to data tracked through Thursday’s close. The stock fell again on Thursday, dipping by as much as 2.5% after Tesla said it was recalling 46,000 Cybertrucks. The issue was tied to a cosmetic panel on the truck’s exterior, which could boost crash risks. The company filed the recall with U.S. regulators and notified owners directly. Schlossberg says Tesla’s fall isn’t over Speaking Thursday on CNBC’s Power Lunch, Boris Schlossberg, managing director of FX strategy at BK Asset Management, said the stock hasn’t bottomed out yet. He said Tesla is still being priced like a futuristic tech company, even though it hasn’t delivered what’s been promised for years. “Tesla has further to fall,” Boris said. “It has been treated as a tech fantasy on autonomous driving. But the longer it takes to crack autonomous driving, the more the market will treat it like a regular car company.” Boris said the company’s whole value rests on hopes of full autonomy. If that doesn’t happen soon, traders and institutions will stop pricing in tech-style growth and will start treating it like a carmaker with tight margins. “Valuation and everything else at Tesla is really dependent upon this dream of autonomous driving,” Boris said. “Until they actually achieve it, [the stock] could be rerated as purely a core car company. And the car business is a tough business — it has much lower multiples than Tesla is getting — so there’s so much more compression to go in Tesla, unless it really achieves a breakthrough.…

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Filed under: News - @ March 21, 2025 9:22 am