Stock offered by billionaire Elon Musk's Tesla has taken a big price hit over the past seven weeks, CNBC reported.

Since Musk join the Trump administration, shares in his automaker have declined each week. Tesla shares were $426.50, on Jan. 16, the last day before President Donald Trump was inaugurated on Jan. 20. This week's closing price was around $270 — a 37% drop.  

Since going public 15 years ago, this is the longest such losing streak for the automaker.

Some analysts say it's due to the fallout over the Tesla CEO's aligning of his time and support with President Donald Trump.

Musk's Department of Government Efficiency is leading the Trump administration's effort to reduce waste and inefficiency in government.

Investing.com reported that Baird has listed Tesla as a "bearish fresh pick." Along with market issues and demand numbers, Investing reports that Baird cites Musk's controversial government role as a factor.

"We believe Musk's involvement with DOGE and the Trump administration broadly may affect some buyers in the US and Europe, which complicates the setup from a demand perspective," Baird wrote.

Other investment and business analysts think Tesla's financial status is solid despite the recent stock price hits.

Wedbush Securities has added Tesla to its "Best Ideas" list, according to CNBC. The outlet reported that Wedbush analyst Dan Ives told investors that Musk and Tesla will benefit from "Trump in the White House as this will create a deregulatory environment with a federal autonomous roadmap central to the Tesla golden strategic vision."

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