Tesla shares keep falling, extending losses since start of week

Tesla shares continued to fall on Friday, apparently as investors took profits after the company’s strong performance following the US election.

Tesla shares fell 5% in premarket US trading, extending losses the company has suffered since the start of the week.

On Wednesday, Tesla shares fell 8%, marking their worst day since before Donald Trump won the presidential election last November, according to CNBC.

Trump’s victory had sent Tesla shares soaring, as investors bet the company would benefit from the close ties between Trump and CEO Elon Musk.

In other news, data from the European Automobile Manufacturers Association on Thursday showed Tesla’s November sales fell 40.9%, outpacing the overall 9.5% decline in electric vehicle sales in the region.