The shares dropped more than 6% to start a new year of trading after the company reported weaker-than-expected fourth-quarter deliveries.

After a monstrous stock rally following November’s presidential election, Tesla (TSLA) reported its first annual decline in electric vehicle delivery, highlighting the growing disconnect between its high-flying stock price and its core automobile business.

Shares of Tesla Inc. slid 6.08% to $379.28 Thursday, on what proved to be an all-around grim trading session for the stock market, with the NASDAQ Composite Index falling 0.16% to 19,280.79 and Dow Jones Industrial Average falling 0.

After Tesla reported its first ever decline in annual deliveries, its stock took a hit. What does that mean for the EV maker?

Tesla shares sank Thursday morning after the electric vehicle maker reported fewer deliveries than analysts had expected for the fourth quarter.

The delivery figures are the first real piece of fundamental news for Tesla investors since the November election sparked a big rally for the stock.