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Elon Musk comments on Tesla’s massive Monday stock slide

Tesla’s valuation saw the largest single-day drop since 2020 on Monday, though Musk isn’t concerned.

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Credit: Tesla

Elon Musk has commented on Tesla’s massive price drop on Monday, emphasizing that he doesn’t think it’s as big of a concern as it’s being made out to be.

After Tesla’s share price fell 15.4 percent on Monday to close at $222.15, representing the largest single-day drop since 2020, Musk responded to a post on X highlighting some of the company’s other big single-day drops. In the response, Musk said that “It will be fine long-term,” echoing others in highlighting that Tesla has had other large single-day drops before.

As a result of the drop, Tesla’s stock price is currently down about 50 percent from its all-time high in December 2024. The previous largest stock drop in a single day occurred in September 2020, when the stock price fell 21.1 percent to $110.

READ MORE ON TSLA: Tesla Q4 and FY 2024 earnings results: What you need to know

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Although Tesla has been facing mass protests and vandalism at its stores and against its vehicles in recent weeks, some analysts have also defended the company’s potential for upside, especially as robotaxis and Unsupervised Full Self-Driving (FSD) are expected to go out later this year.

On Tuesday, billionaire investor Ron Baron defended Tesla’s stock in an interview with CNBC, noting that he would keep holding onto his personal shares, even though his firm Baron Capital trimmed some Tesla stock last month due to its position becoming too large. Baron went on to say that Tesla will be the last position he would trim in his portfolio.

“I’m the last in, I’ll be the last out,” Baron said. “So I won’t sell a single share personally until I sell all the shares for clients, and that’s what I’ve done.”

Similarly, Morgan Stanley analyst Adam Jonas said that he expects Tesla’s share price to rebound as much as 93 percent within the next year, with the firm setting a $430 price target for the stock. Ark Invest, the firm run by Tesla bull Cathie Wood, also loaded up on additional Tesla stock amidst the price drop, adding more than $20 million worth of shares on Monday.

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Alternatively, some have highlighted Musk’s recent political endeavors as extremely bearish, emphasizing beliefs that the stock’s bubble is now bursting. Last week for example, Swedish billionaire and hedge fund manager Christer Gardell said that he thought Tesla’s valuation could drop by as much as 95 percent, calling Musk’s recent efforts a “circus” and saying the company’s valuation was “incomprehensible.”

Donald Trump pledges Tesla purchase amid anti-Musk protests

Zach is a renewable energy reporter who has been covering electric vehicles since 2020. He grew up in Fremont, California, and he currently lives in Colorado. His work has appeared in the Chicago Tribune, KRON4 San Francisco, FOX31 Denver, InsideEVs, CleanTechnica, and many other publications. When he isn't covering Tesla or other EV companies, you can find him writing and performing music, drinking a good cup of coffee, or hanging out with his cats, Banks and Freddie. Reach out at zach@teslarati.com, find him on X at @zacharyvisconti, or send us tips at tips@teslarati.com.

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Elon Musk

Tesla Megapack powers $1.1B AI data center project in Brazil

By integrating Tesla’s Megapack systems, the facility will function not only as a major power consumer but also as a grid-supporting asset.

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Tesla’s Megapack battery systems will be deployed as part of a 400MW AI data center campus in Uberlândia, Brazil. The initiative is described as one of Latin America’s largest AI infrastructure projects.

The project is being led by RT-One, which confirmed that the facility will integrate Tesla Megapack battery energy storage systems (BESS) as part of a broader industrial alliance that includes Hitachi Energy, Siemens, ABB, HIMOINSA, and Schneider Electric. The project is backed by more than R$6 billion (approximately $1.1 billion) in private capital.

According to RT-One, the data center is designed to operate on 100% renewable energy while also reinforcing regional grid stability.

“Brazil generates abundant energy, particularly from renewable sources such as solar and wind. However, high renewable penetration can create grid stability challenges,” RT-One President Fernando Palamone noted in a post on LinkedIn. “Managing this imbalance is one of the country’s growing infrastructure priorities.”

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By integrating Tesla’s Megapack systems, the facility will function not only as a major power consumer but also as a grid-supporting asset.

“The facility will be capable of absorbing excess electricity when supply is high and providing stabilization services when the grid requires additional support. This approach enhances resilience, improves reliability, and contributes to a more efficient use of renewable generation,” Palamone added.

The model mirrors approaches used in energy-intensive regions such as California and Texas, where large battery systems help manage fluctuations tied to renewable energy generation.

The RT-One President recently visited Tesla’s Megafactory in Lathrop, California, where Megapacks are produced, as part of establishing the partnership. He thanked the Tesla team, including Marcel Dall Pai, Nicholas Reale, and Sean Jones, for supporting the collaboration in his LinkedIn post.

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Starlink powers Europe’s first satellite-to-phone service with O2 partnership

The service initially supports text messaging along with apps such as WhatsApp, Facebook Messenger, Google Maps and weather tools.

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Credit: SpaceX

Starlink is now powering Europe’s first commercial satellite-to-smartphone service, as Virgin Media O2 launches a space-based mobile data offering across the UK.

The new O2 Satellite service uses Starlink’s low-Earth orbit network to connect regular smartphones in areas without terrestrial coverage, expanding O2’s reach from 89% to 95% of Britain’s landmass.

Under the rollout, compatible Samsung devices automatically connect to Starlink satellites when users move beyond traditional mobile coverage, according to Reuters.

The service initially supports text messaging along with apps such as WhatsApp, Facebook Messenger, Google Maps and weather tools. O2 is pricing the add-on at £3 per month.

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By leveraging Starlink’s satellite infrastructure, O2 can deliver connectivity in remote and rural regions without building additional ground towers. The move represents another step in Starlink’s push beyond fixed broadband and into direct-to-device mobile services.

Virgin Media O2 chief executive Lutz Schuler shared his thoughts about the Starlink partnership. “By launching O2 Satellite, we’ve become the first operator in Europe to launch a space-based mobile data service that, overnight, has brought new mobile coverage to an area around two-thirds the size of Wales for the first time,” he said.

Satellite-based mobile connectivity is gaining traction globally. In the U.S., T-Mobile has launched a similar satellite-to-cell offering. Meanwhile, Vodafone has conducted satellite video call tests through its partnership with AST SpaceMobile last year.

For Starlink, the O2 agreement highlights how its network is increasingly being integrated into national telecom systems, enabling standard smartphones to connect directly to satellites without specialized hardware.

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Elon Musk’s Starbase, TX included in $84.6 million coastal funding round

The funds mark another step in the state’s ongoing beach restoration and resilience efforts along the Gulf Coast.

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Credit: SpaceX/X

Elon Musk’s Starbase, Texas has been included in an $84.6 million coastal funding round announced by the Texas General Land Office (GLO). The funds mark another step in the state’s ongoing beach restoration and resilience efforts along the Gulf Coast.

Texas Land Commissioner Dawn Buckingham confirmed that 14 coastal counties will receive funding through the Coastal Management Program (CMP) Grant Cycle 31 and Coastal Erosion Planning and Response Act (CEPRA) program Cycle 14. Among the Brownsville-area recipients listed was the City of Starbase, which is home to SpaceX’s Starship factory.

“As someone who spent more than a decade living on the Texas coast, ensuring our communities, wildlife, and their habitats are safe and thriving is of utmost importance. I am honored to bring this much-needed funding to our coastal communities for these beneficial projects,” Commissioner Buckingham said in a press release

“By dedicating this crucial assistance to these impactful projects, the GLO is ensuring our Texas coast will continue to thrive and remain resilient for generations to come.”

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The official Starbase account acknowledged the support in a post on X, writing: “Coastal resilience takes teamwork. We appreciate @TXGLO and Commissioner Dawn Buckingham for their continued support of beach restoration projects in Starbase.”

The funding will support a range of coastal initiatives, including beach nourishment, dune restoration, shoreline stabilization, habitat restoration, and water quality improvements.

CMP projects are backed by funding from the National Oceanic and Atmospheric Administration and the Gulf of Mexico Energy Security Act, alongside local partner matches. CEPRA projects focus specifically on reducing coastal erosion and are funded through allocations from the Texas Legislature, the Texas Hotel Occupancy Tax, and GOMESA.

Checks were presented in Corpus Christi and Brownsville to counties, municipalities, universities, and conservation groups. In addition to Starbase, Brownsville-area recipients included Cameron County, the City of South Padre Island, Willacy County, and the Willacy County Navigation District.

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