For Tesla Inc., it was a $1 billion profit plunge. In Q2 2024, this has resulted in earnings of just $1.5 billion, a 45% drop from Q2 2023. This downturn comes as the electric vehicle (EV) manufacturer grapples with price-cutting strategies and mounting operational challenges,

In fact, Musk believes Tesla could eventually be as valuable as the next five largest companies combined. Today, those companies would be Apple, Microsoft, Nvidia, Alphabet, and Amazon, which have a combined value of $11.8 trillion.

A growing number of Tesla owners are selling their vehicles as global protests against CEO Elon Musk gather momentum.