It's been a bad month for the stock market. But it's been a terrible month'in fact, a terrible year'for Tesla. Even after rebounding since Monday, perhaps with some help from Donald Trump's South Lawn salesmanship, Tesla's stock price is down almost 40 percent since January 1. Some of that drop is down to concrete issues with Tesla's core car business: Sales last year fell for the first time in more than a decade, and Wall Street analysts are now estimating that they will have fallen again in the most recent quarter. Tesla is facing fierce price competition in China, where its year-over-year sales fell by 49 percent in February, and steeply declining sales in Western Europe. Although the company has promised that it will be rolling out new, more affordable models later this year, details have been sparse at best. The most important driver of Tesla's share slump, however, can be summed up in two words: Elon Musk. Tesla has always been a 'story stock,' which is to say the sort of...
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