Over the past few years, a collection of technology stocks, i.e., Apple, Amazon, Alphabet (Google), Microsoft, Nvidia, Meta Platforms (Facebook), and Tesla – have become largely responsible for the surging US bull market and the commensurate growth in the S&P 500 Index.

Tesla and Meta are entirely different companies. The former manufactures electric vehicles (EVs), whereas the latter is the social media giant behind Facebook and Instagram. Despite its incredible run last year,

It appears that Tesla sales are slumping in the U.S., too. According to the California New Car Dealers Association, Tesla registered fewer cars in the state in all four quarters of 2024. California is the largest EV market in the U.S. Tesla sales fell by 8 percent in the fourth quarter and 12 percent for the whole year.

Over the past few years, a collection of technology stocks, i.e., Apple, Amazon, Alphabet (Google), Microsoft, Nvidia, Meta Platforms (Facebook), and Tesla – have become largely responsible for the surging US bull market and the commensurate growth in the S&P 500 Index.

Cybertruck owners vent about mockery from Musk haters in their own Facebook group - ‘Cybertruck ownership comes with… interesting fan mail,’ one electric vehicle owner wrote online

The backlash against the electric vehicle company has intensified as the billionaire ally of President Trump exerts his power over the federal government.

Some early reports suggest a recovery is unlikely in 2025. In January, Tesla's sales plunged by over 50% year over year across Europe, which included a 75% decline in Spain, a 63% decline in France, and a nearly 60% drop in Germany. Sales also fell by 33% in Australia, which highlights how widespread the weakness really is.