The poor showing is a considerable setback for investors, particularly as it follows Tesla's billionaire CEO, Elon Musk, having previously promised a "major rebound" was imminent. That assurance had recently fuelled a buying frenzy among shareholders.

Elon Musk's electric vehicle company registered its fifth straight month of decreasing sales compared to last year, according to Reuters. Tesla sales fell 27.9 percent year-over-y

In February, the “Tesla Takedown” movement staged anti-Musk demonstrations at dealerships in the U.S. and Europe, and there was a spate of vandalism against individual vehicles and charging stations. Cybertrucks were seen on video being set on fire, while other vehicles had the word “Nazi” spray-painted or etched into their sides.