Shares of Tesla dropped Friday, extending the stock’s losing streak to three sessions to end the holiday-shortened week.
Safety concerns have dominated the conversation around Tesla stock in recent days. On Tuesday, the U.S. auto safety regulator opened an investigation into the mechanical door release on the 2022 Tesla Model 3. A petition alleged the door release was difficult to identify and use in an emergency.
The company is also nearing its self-imposed target to launch fully driverless robo-taxis, with no safety monitors, by the end of 2025. The prospect of a potentially lucrative robo-taxi business has helped Tesla stock overcome political opposition to electric vehicles this year.
Tesla shares, which are up 18% in 2025, fell 2.1% to $475.19 on Friday. The stock will need a strong run to finish the year above $500 a share after it hit an intraday high of $498.83 on Monday.
The car maker hasn’t often benefited from a Santa Claus rally—the bump that U.S. stocks historically get in the last five trading days of December and first two sessions of January.
Tesla stock has declined in nine of 15 Santa Claus-rally periods as a publicly traded company, with a median drop of 2.7%, according to Dow Jones Market Data. Shares have dropped in three straight rally periods, including a 4.7% decline last year.
The S&P 500 has fallen in just four of the last 15 rally periods, per Dow Jones Market Data.