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.

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

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.