Photo by Pixaline on PixabayThe market shocks in its record, stop short of the deepest drop in its own price history, and over the last twelve months the market climbed while the stock barely moved. Over the trailing twelve months the stock returned 2.7% while the S&P 500 returned 23%, so this drop arrived without a falling market. Sixty-One Percent Was The Worst Shock, Not The Worst FallTesla has traded through 13 catalogued market shocks, and on average it has fallen further than the S&P 500 when they hit. The deepest was 61% in the 2020 COVID-19 crash, on a peak-to-trough basis rather than a trailing return. A bad case priced off the crash record captures the worst market accident, not the worst outcome.