TSLA stock has declined significantly from its recent peak, but that peak was mostly due to a wave of hype after Donald Trump was elected. Elon Musk’s involvement was seen as a bullish thing not only for Tesla, but for the broader economy and many Tesla investors thought this could bring about a boom for the company as Musk gains sway in D.C.

Tesla shares tumbled again Tuesday, putting the EV maker's stock on pace to lose ground for the ninth consecutive week. The stock staged a minor bounce from the lower trendline of