Tesla’s stock has been on a rollercoaster ride recently, reflecting the challenges and controversies surrounding its CEO, Elon Musk. As of now, Tesla’s stock is trading at $235.79, marking a 6.14% increase today. Despite this positive movement, the stock has faced significant declines over the past year, with its 52-week range spanning from $138.80 to $488.54. The company’s market capitalization currently stands at approximately $758 billion.
The recent uptick in Tesla’s stock price comes amid growing scrutiny of Musk’s dual roles as a government adviser and a business leader. His leadership of the Department of Government Efficiency (DOGE) under President Donald Trump has drawn criticism for aggressive cost-cutting measures that have led to widespread layoffs in federal agencies. This political involvement has sparked protests and even acts of vandalism targeting Tesla vehicles, further complicating the company’s public image.
In a surprising move, President Trump announced his intention to purchase a Tesla vehicle, a gesture seen as a show of support for Musk amidst the backlash. Early Tuesday, Trump took to Truth Social to defend Musk, stating, “Elon Musk is ‘putting it on the line’ in order to help our Nation, and he is doing a FANTASTIC JOB!” He continued, “But the Radical Left Lunatics, as they often do, are trying to illegally and collusively boycott Tesla, one of the World’s great automakers, and Elon’s ‘baby,’ in order to attack and do harm to Elon, and everything he stands for.”
Adding to the turmoil, protests have erupted in several cities, with demonstrators rallying under the slogan “Fire Musk.” These protests have targeted Tesla dealerships and showrooms, with some turning violent, including acts of vandalism and arson. The demonstrations reflect growing public frustration over Musk’s political influence and his association with the Trump administration.
This endorsement has sparked debates about potential conflicts of interest, given Musk’s significant influence in both the public and private sectors. Critics argue that Trump’s public support for Musk, a major campaign donor and federal contractor, blurs the lines between governance and personal business interests.
Tesla’s future remains uncertain as it navigates these turbulent times. While the company continues to lead in innovation within the electric vehicle market, its association with Musk’s polarizing persona poses challenges for its market performance. Investors and analysts alike are closely watching how Tesla and Musk will address these issues moving forward.
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