$152 Billion Wiped Off Tesla’s Market Value; TrumpCoin Crashes Over $100 Million

In a dramatic turn of events on Wall Street, Tesla's shares took a hit on Thursday, erasing a staggering $152 billion from the electric vehicle maker’s market value within hours. The sharp selloff reflects rising investor unease around demand trends and valuations in the tech sector, as per media reports.

Tesla's rout was triggered by a combination of factors such as disappointing delivery projections, mounting competition in key international markets, and fresh concerns about CEO Elon Musk’s “strategic direction”.

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The selloff snowballed quickly as institutional investors and retail traders rushed to cut losses, dragging the stock to its steepest single day drop in months.

Tesla, once the crown jewel of Wall Street's tech-heavy growth rally, has been under pressure in recent months. While the company remains a dominant force in the global EV industry, recent deliveries out of China—one of its key markets—have underwhelmed investors. Analysts also point to increasing competition from Chinese rivals such as BYD and newer players in Europe, which are chipping away at Tesla's global market share.

TrumpCoin Also takes a hit 

Meanwhilke, the ripple effects of risk aversion also extended into the crypto world. TrumpCoin, a niche digital token that gained attention among supporters of Donald Trump during the 2024 U.S. presidential campaign season, saw its value tumble by more than 30%. The crash erased over $100 million in market capitalization, driven by a wave of sell orders amid low liquidity and speculative trading patterns.

Launched as a novelty coin and never officially endorsed by Trump, TrumpCoin had ridden waves of political enthusiasm and meme-driven hype to reach a sizable—but fragile—valuation. According to media reports, its sudden collapse underscores the volatile nature of politically driven cryptocurrencies, especially as regulatory pressure on the broader crypto market continues to build.