TSLA is trading at $388.58, down 3.65% as U.S. markets plunge following Iran's closure of the Strait of Hormuz, a critical corridor handling 20% of the global oil supply.
- The broader market selloff saw the S&P 500 and Nasdaq drop 2.31% and 2.50% respectively, disproportionately affecting growth stocks sensitive to energy costs and supply chain instability.
- Tesla faces additional company-specific headwinds following reports that Samsung is delaying its Texas chip plant, which is vital for the production of AI5 and AI6 processors used in Full Self-Driving and Optimus robots.