Tesla finds itself in a bind as it lost all the gains it has made since the election of the new Trump administration.

On Monday, the company’s shares fell 5.8%, extending an eight-week losing streak that has halved its value in three months.

What once made the company stand out in the electric vehicle market now seems outdated as Chinese manufacturers like BYD and NIO flood the industry with stylish and affordable alternatives.

Since mid-December, Tesla’s shares have plummeted 53%, dropping from $479.86 to around $220, wiping out more than $800 billion in market value.

The Musk-owned brand has experienced an eight-week losing streak, its longest since debuting on the Nasdaq in 2010. On March 10, Tesla shares dropped 15%, their worst day since September 202 .

“We struggle to think of anything analogous in the history of the automotive industry, in which a brand has lost so much value so quickly,” according to the analysts at JPMorgan.

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