Musk-Linked Stocks Slide as Tesla Shares Drop 9.01% Thursday

A selloff across shares associated with Elon Musk put Tesla at the center of the move Thursday, when the stock dropped 9.01% to $350.472. The decline puts a sharp move in Musk-linked stocks on the radar of crypto traders.

SpaceX fell 6.23% to $127.455 a share, while Trump Media & Technology Group, which trades under the ticker DJT, declined 3.23% to $4.345. Tesla’s market value stood at $1.39 trillion; SpaceX’s was $1.73 trillion, and DJT’s was about $1.21 billion.

Tesla’s decline exceeded SpaceX’s by 2.78 percentage points and DJT’s by 5.78 points, making it the largest loss among the three companies. The political backdrop included Democrats taking control of Congress and Musk’s links to Trump. The figures put Tesla’s percentage drop at nearly three times DJT’s, while SpaceX’s loss fell between the two.