Following an extraordinary 2023 and 2024, when Tesla (NASDAQ: TSLA) shares rose 102% and 63%, respectively, the stock is facing different sentiment in 2025. As of this writing, shares are down more than 18% year to date.

On February 20, Tesla’s 50-day moving average shifted into a bearish trend as the telltale trendline shifted into a declining pattern. The last time Tesla’s 50-day followed a similar trend was January 24, 2024. That shift in the stock’s momentum preceded a 22% decline in Tesla shares over two-month period.

Current prices put the auto maker’s market value below $1 trillion. The stock needed to maintain a share price of about $311 to keep that mark.

Tesla shares are extending this year’s declines, dropping almost 8% Tuesday, as Elon Musk’s company recorded a 45% plunge in European EV registrations last month.

Tesla (NASDAQ:TSLA) shares tumbled 8.4% on Tuesday, wiping its market cap below $1 trillion to $970.4 billion. The stock has dropped 18% year-to-date as the electric carmaker struggles with slowing European sales,