TSLA shares have dropped more than 25% since the company reported disappointing fourth-quarter earnings last week.
The company announced that it will slash its stock price to $26.20 from $29.10 this week, in response to investors concerns that the electric vehicle maker is struggling to build enough electric vehicles to meet demand.
The stock fell by more than 10% during the past two weeks.
The company has lost almost $3 billion since the start of the year.
The stocks decline has hurt the company’s bottom line, which was up about 12% last quarter, said Brian Wansink, president of financial services at Fidelity.
But it also has put pressure on other tech stocks like Intel, Microsoft and Cisco.
Apple and Alphabet have also been battered by the stock decline, losing more than 20% in the past three months.
Apple has seen a massive drop in stock prices since the iPhone 5 launched in 2013, according to research firm FactSet.
In September, Apple’s market value was down about $60 billion from the year before.
Alphabet, which owns Google, lost about $20 billion last year.
Intel shares fell more than 12% during last week’s trading, but rebounded slightly from a 10-year low.
Intel’s market cap is down about 12%.
Shares of Cisco Systems fell more, about 5%, during the same period, and its market cap fell about $8 billion from last year, the company said.
Other tech stocks have been hit by the drop in Tesla stock.
Shares of Dell lost about 5% during a week in which the stock dropped more that 30%, according to FactSet data.