Tesla shares are poised for their worst annual performance ever due to investor anger over Musk’s acquisition of Twitter, falling demand for Tesla’s electric vehicle, and a decline in the stock market as a whole amid rising interest rates. Tesla’s share price slide marks a sharp reversal in the share price of the world’s most valuable car company. Since the stock price hit an all-time high in November 2021, Tesla’s market cap has lost about 70%. Uncertainty in the global economy is deepening, consumers are increasingly available with other electric vehicle options, and investors are concerned that Tesla may need to sacrifice its profitability levels to maintain its growth rate. Tesla’s stock has fallen more than the broader market this year and outpaced many of its rivals.