Tesla’s stock rebounded on Tuesday following a steep decline to start the week after President Donald Trump published a post on social media defending the company’s CEO Elon Musk amid his work for the administration – even bringing a Tesla to the White House.
Tesla stock declined more than 15% on Monday in the wake of sluggish sales in the U.S. and abroad, as well as uncertainty surrounding Elon Musk’s focus on the company, given his involvement with the Trump administration and other companies like SpaceX and his social media platform X. Tesla stock was up about 4.8% as of 1:30 p.m. ET during Tuesday’s trading session.
Trump wrote in a post on his social media site, Truth Social, that Musk is “‘putting it on the line in order to help our Nation, and he is doing a FANTASTIC JOB! 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.”
“They tried to do it to me at the 2024 Presidential Ballot Box, but how did that work out? In any event, I’m going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American,” Trump wrote Monday. “Why should he be punished for putting his tremendous skills to work in order to help MAKE AMERICA GREAT AGAIN???”
TRUMP SAYS HE WILL BUY A TESLA TO SUPPORT ELON MUSK AND HIS ‘BABY’
Musk was a prominent backer of Trump’s presidential campaign and proposed creating the Department of Government Efficiency (DOGE), which he is leading in its efforts to cut what the administration views as fraud, waste and abuse.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 229.93 | +7.78 | +3.50% |
The billionaire’s political involvement has prompted pushback from protesters who have held demonstrations and, in some cases, vandalized Tesla vehicles, charging stations and dealerships.
TESLA VEHICLES, CHARGING STATIONS TARGETED AS PROTESTERS DENOUNCE DOGE, ELON MUSK
Last Thursday, The Associated Press reported that a Tesla dealership in Oregon near Portland was targeted with gunshots, damaging multiple cars and shattering windows. A man was also recently arrested after Molotov cocktails were thrown at a Tesla dealership in Salem, Oregon, the Statesman-Journal reported.
Several Tesla charging stations have also been set on fire in Massachusetts. Brookline police recently arrested a Boston man caught on video allegedly tagging Tesla vehicles with Musk decals and sharing the footage on X.
Last week, federal prosecutors in Colorado charged 42-year-old Lucy Grace Nelson, also known as Justin Thomas Nelson, after police found a number of explosives and concerning messages at a Colorado Tesla dealership.
Fox News Digital’s Alexandra Koch contributed to this report.
