Tesla (TSLA) and Snap (SNAP) are among today's losers, with TSLA sinking nearly 4% and Snap giving back almost 5%. Tesla is dropping on news that the automaker is offering discounts on its Cybertrucks, while Snap is falling because President-elect Trump may attempt to suspend the ban on TikTok's U.S. business.

Tesla's Cybertruck Discounts

Elon Musk's automaker is cutting the prices of Cybertrucks that it has in inventory by about $1,600 to $2,600, the company reported on its website. According to multiple sources, the price cuts suggest that demand for the EV, which was launched just 14 months ago, has dropped significantly.

TSLA handed over only about 40,000 of the huge EVs to customers last year, according to estimates.

Snap Falls on Reports That Trump May Suspend the Ban on TikTok

Trump could issue an executive order suspending the law which mandates that TikTok's U.S. business be either sold or shut down, The Washington Post reported yesterday. However, some legal experts believe that Trump cannot prevent the law from being implemented. The legislation set a deadline of Jan. 19 for TikTok's U.S. business to either be sold or shut down. Trump is slated to take office on Jan. 20.

If the unit is shuttered, Snap could potentially attract some of its advertising dollars, while a portion of its users could spend more time on Snap's Snapchat site.

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Disclosure: None. This article is originally published at Insider Monkey.