'Tesla tanking': MSNBC financial expert delivers brutal news to Musk investors

Noted investment expert Steve Rattner had nothing but bad news for billionaire Elon Musk and Wall Street investors who have been hanging onto their shares of Tesla stock as the value of the shares keeps spiraling downward.

During an appearance on MSNBC's "Morning Joe," Rattner used enlarged charts showing a bevy of downward trends and directly linked the collapse –– dubbed "Tesla tanking" –– to Musk's highly unpopular relationship with Donald Trump.

One major concern he noted, was that, at a time when EV sales are seeing a swing upward, Tesla sales are heading in the opposite direction.

ALSO READ: 'We’ve made a mistake': Trump’s trade war sends GOP into frenzy

Pointing to his graphs, he began, "See here that Tesla in its early years had huge sales increases, as you would expect, very popular. One of the few makers of really good electric vehicles (EV) in the country. But beginning in 2025. its sales kind of stagnated, a combination of really two reasons. One, some competition, more competition from other people trying to get in the business, including domestic manufacturers and also the fact that people are getting their models Y and S, two of their most popular models, are getting a little bit long in the tooth, so to speak."

"But look what happened here in the first quarter," he added. "In the first quarter, their sales went down 13 percent more than they've ever done before and that's across the world. If you look at just the U.S., you can see that all U.S. EV sales are actually up 11 percent and Tesla was down nine. And so what I think you are starting to see, and I'll get to this a bit in a second, you are starting to see Musk's unpopularity weigh on Tesla's sales."

Asked by host Mika Brzezinski for more details about "Tesla tanking" he added, Tesla had a "...huge run up because people thought that Musk was simply going to be a great beneficiary of the federal government's largesse. And then you can see that, along with all the chaos and commotion and Trump's own personal issues, you can see Tesla stock's gone all the way back down."

You can watch below or at the link here.

- YouTubeyoutu.be