Tesla shares drop 11.4% on Tuesday; Elon Musk's net worth tumbles

Tuesday was the company's worst day in eight months as Tesla shares dropped to their lowest level in more than two years.

[{"selector":"#anim-ed7c33a1-0d18-4f0d-a253-432ee07a9379","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1d0e29df-0d0c-4956-82eb-6955c4660892","keyframes":{"transform":["translate3d(110.00000%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-7323eec3-c28d-45db-a1d8-6bda9e1327bd","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]

Since the beginning of October, the company's stock has lost more than half of its value.

[{"selector":"#anim-31e550fd-eef2-47a7-a40d-2d238754504f","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3c108456-c135-400f-b945-3145a386d18e","keyframes":{"transform":["translate3d(109.39394%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-561158ff-877f-46c4-bdcf-83dadc11fc11","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]

Investors are concerned that now that Musk is the CEO of Twitter, it is consuming a lot of his time.

[{"selector":"#anim-241345c1-48e6-4a96-8b00-aab884789d4d","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-cd29a443-89e0-4d19-b124-1e027ffcefb1","keyframes":{"transform":["translate3d(114.96816%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-30c92529-b380-408d-88ed-ebd600beae5a","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]

Tesla shares are now down 73% from November 2021.

[{"selector":"#anim-79d1f27b-97ea-458f-bf79-45a809f710cc","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8440e053-6009-4530-95d7-62d4c10ae2d8","keyframes":{"transform":["translate3d(108.40841%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-5630056c-acaa-46d3-9fc1-1d2dc2f9150e","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]

On Tuesday, Tesla shares tumbled 11.4%.

[{"selector":"#anim-fd1aca3e-d644-4b41-99a9-933a2374eee5","keyframes":{"opacity":[0,1]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-e58459a2-1084-4123-ae71-df798afa96f5","keyframes":{"transform":["translate3d(111.78344%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-3f662372-29c8-4df4-b8e6-0587b45b40ad","keyframes":{"opacity":[0,1]},"delay":0,"duration":3000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}]