Elon Musk had a difficult week across two of his highest-profile companies. Tesla shares fell nearly 18% for the week and ended Friday at $313.03, marking the electric vehicle maker’s steepest weekly decline since 2022.
The sell-off followed Tesla’s latest earnings report, which missed expectations and showed the company had turned cash-flow negative. Those results added to investor concerns about profitability, spending and near-term business momentum.
SpaceX also moved lower, with the company down 7.2% as attention turned to an upcoming Starship test flight. The decline added to the broader pressure surrounding Musk-linked assets during the week.
Taken together, the back-to-back drops at Tesla and SpaceX underscored a sharp shift in sentiment. For investors, the combination of weaker Tesla financials and fresh scrutiny on SpaceX ahead of Starship left Musk facing one of his roughest market weeks in recent memory.
