Tesla auto stocks continued to fall last Monday, down more than 4%, and are now nearly 35% less than their January record high of January 26. This is the third time in the past 12 months that the shares of an American electric vehicle manufacturer have lost so dramatically in value.

As a result, Tesla’s market capitalization fell to $ 550 billion on Monday, down nearly $ 300 billion from its record high on January 26. Musk’s company lost to Facebook Inc., which it overtook in December after being included in the S&P 500.

It should be noted that since February 12, when the Nasdaq exchange reached an all-time high, there has been a drop in the shares of many technology companies. However, Tesla’s share price declines during this time have been much stronger than those of other Wall Street heavyweights. While Tesla shares have dropped nearly 30% since February 12, dropping gains over the past six months to about 43%, then Apple Inc shares have dropped about 13%, and Amazon.com Inc, Microsoft Corp and Facebook Inc shares have fallen less than on 10 %.

Tesla’s share gains in recent months have been based on the expectation of a rapid increase in car production by the company, which would boost its profits. The latest drop in shares follows a tweet from CEO Elon Musk on Saturday that an update on the Cybertruck electric pickup is likely to be released in the second quarter.

Tesla is the most volatile of Wall Street’s largest stocks. Since the beginning of 2020, they have fallen in price by amounts similar to and even exceeding the company’s current sales. Tesla shares fell more than 60% in February and March last year as the coronavirus pandemic hit global markets. Then, after soaring to new highs in August, the stock plunged 33% and then began to skyrocket again.