Shares

Don’t look now, but semiconductor chip stocks are in a major slump.

Musk’s net worth is down almost $60 billion in 2024 alone, according to Forbes’ estimates, as Tesla stock tanked and a judge swatted down Musk’s record compensation package.

Shares of Facebook and Instagram parent company Meta tanked on Monday, suffering their worst day on Wall Street in nearly eight months on the heels of former President Donald Trump’s scathing review of Facebook as the “enemy of the people,” as the former president looks to bolster his rival social media platform.

Apple is having its worst day on Wall Street since early January.

Musk’s $56 billion compensation package was voided in January in a lawsuit brought forth by a Tesla shareholder.

Apple shares have underperformed the broader market on a 6-month, 12-month and 2-year basis as rival Microsoft surpassed Apple as the world’s most valuable company.

Apple had reportedly been working on the development of its electric vehicle since 2014.

Shares of Warner Bros. Discovery slid Friday to their lowest level ever, even after the HBO and CNN parent’s streaming unit became the first major streamer aside from Netflix to record a profitable year on record, exemplifying the struggles of legacy media companies to return shareholder value in the era of streaming.

The social media company has eyed an IPO for years, first reportedly filing confidentially back in December 2021.

Neuralink, Musk’s brain interface company that hopes to merge humans with computers, began the first human trial of its technology in January with a view to restoring lost functions like movement and communication to people with paralysis.