Tesla shares dropped over 8% on Wednesday, closing at over $440, marking their sharpest decline since before the election of Donald Trump. Despite recent gains, analysts at Barclays expressed concerns about the stock’s disconnect from fundamentals, maintaining a hold rating with a $270 price target. Elon Musk's new role in Trump's administration adds uncertainty to Tesla's future as it faces increasing competition from Waymo's growing robotaxi services. Tesla is set to report its fourth-quarter deliveries in January, and without new vehicle models since the Cybertruck's release, the company is relying on incentives like 0% financing to maintain sales momentum.