Stocks of Tesla and Trump Media, which were seen as major beneficiaries of a Trump presidency, have lost nearly 50% since Inauguration Day.

The 50 days since President Trump's inauguration have not been great for the so-called "Trump trades." Actually, they've been downright awful.

Trump's presidency has been a whirlwind marked by tariffs, an aggressive government reorganization agenda and a high-profile bust up with Ukrainian President Volodymyr Zelensky.

The stocks that Wall Street seemed to believe would benefit from the most from his presidency, such as Trump Media & Technology's, which operates Trump's social-media platform Truth Social and is majority owned by Trump, Tesla Motors Inc.'s and those of companies in the cryptocurrency business, have actually all lost ground since the inauguration.

Trump Media’s stock ended Monday’s session down 11.5% and at a five-month low, having fallen 44% since Inauguration Day on Jan. 20.

Trump owns 114.75 million shares, or 52.9% of the shares outstanding, according to the latest regulatory filings, which means the value of his stake has dropped by $1.8 billion since he became president.

The company said in its annual report released in February that its success depends in part on the popularity of President Trump.

Electric-vehicle giant Tesla also emerged as a high-profile Trump trade, thanks to Chief Executive Elon Musk spending hundreds of millions of dollars to help Trump get elected. Musk’s loyalty was rewarded when Trump made him the leader of the so-called Department of Government Efficiency, or DOGE, and he is now the figurehead leading controversial government-spending cuts.

But Tesla shares have plummeted 47.6% since Jan. 21, amid a downbeat earnings report and sinking sales in Europe and China. Set against this backdrop, the stock on Monday saw its lowest close since Oct. 23, 2024, before the Nov. 5 election.

However, Wedbush analyst Dan Ives, who is Wall Street’s most bullish analyst on Tesla, says that the stock selloff is well overdone, as his $550 price target for Tesla’s stock implies 148% upside from current levels.

In comparison, the S&P 500 index has lost 7.2% since Inauguration Day.

Tesla is the only stock that features in both the “Magnificent Seven” and a group of stocks dubbed the “MAGA Seven” by MarketWatch.

The MAGA Seven is made up of stocks that trade on U.S. exchanges, had a market capitalization of $15 billion or higher on Nov. 5, and saw their share price increase by the biggest percentage between Election Day and Trump’s Jan. 20 inauguration.

Shares of MAGA Seven member Robinhood have fallen 28.7% since the inauguration, despite expectations that the company would be a“major beneficiary” of the crypto-friendly Trump administration. Similarly, shares of fellow MAGA Seven stocks Coinbase Global Inc. and MicroStrategy Inc. (now doing business as Strategy) have tumbled 39.1% and 38.5%, respectively.

Also part of the MAGA Seven, app-monetization company AppLovin Corporation Corp.’s stock has dropped 29.6% since the inauguration, while network-technology company Ubiquiti Inc. Inc. has slid 27.6% and home-goods retailer Williams-Sonoma Inc. has declined 11.7%.

Although not on the MAGA Seven list, mobile-advertising software company Phunware, Inc. Inc., which soared as Trump trade during the election, has plunged 40.6% since the inauguration.