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- President Donald Trump has announced he will buy a Tesla to support Elon Musk amid ongoing boycotts and protests against the company.
- President Trump labeled the boycotts as “illegal” and blamed “Radical Left Lunatics” for the actions against Tesla.
- Tesla’s stock has plummeted significantly in recent weeks, with a 15.4% drop on March 10, its largest single-day decline since 2020.
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Essential Context
President Donald Trump, in a recent post on his social media platform Truth Social, declared his support for Elon Musk and Tesla. President Trump criticized what he described as an “illegal and collusive” boycott by the “Radical Left Lunatics” aimed at harming Tesla and Musk.
Core Players
- Donald Trump – President of the United States
- Elon Musk – CEO of Tesla, leader of the Department of Government Efficiency (DOGE) task force
- Tesla – Electric vehicle and clean energy company
Key Numbers
- 15.4% – Tesla’s single-day stock drop on March 10, its largest since 2020.
- 36.6% – Tesla’s stock decline over the past month.
- $696 billion – Tesla’s current market capitalization, down from $1.5 trillion in December 2024.
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The Catalyst
President Trump’s announcement came after Tesla faced significant backlash, including protests and vandalism at its showrooms and charging stations across multiple states, such as Colorado and Massachusetts.
“To Republicans, Conservatives, and all great Americans, Elon Musk is ‘putting it on the line’ in order to help our Nation, and he is doing a FANTASTIC JOB!” President Trump wrote on Truth Social.
Inside Forces
Elon Musk’s involvement in the Department of Government Efficiency (DOGE) task force, established by the Trump administration, has been a focal point of controversy. Musk has been working out of an office in the Eisenhower Executive Office Building, part of the White House compound.
Musk has also alleged that figures like George Soros and Reid Hoffman are financing the protests against Tesla.
Power Dynamics
President Trump’s support for Musk is a significant gesture, especially given the historical context of their relationship. Trump has often praised Musk’s entrepreneurial spirit and his contributions to American innovation.
Musk responded to President Trump’s support on his social media platform X, saying, “Thank you, President @realDonaldTrump!”
Outside Impact
The boycotts and protests have had a tangible impact on Tesla’s operations and stock performance. The company’s stock has experienced its steepest drop in nearly five years, with a 15.4% decline on March 10.
Protests and acts of vandalism, including damaged cars and set ablaze charging stations, have further exacerbated the situation.
Future Forces
The ongoing support from President Trump and the reactions from Musk and other stakeholders will likely influence the trajectory of Tesla’s public perception and financial health.
As the situation evolves, it will be crucial to monitor how these dynamics affect the broader automotive and tech industries.
Data Points
- March 10, 2025: Tesla’s stock drops 15.4%, its largest single-day decline since 2020.
- December 2024: Tesla’s market capitalization peaks at $1.5 trillion.
- March 11, 2025: President Trump announces his plan to buy a Tesla in support of Elon Musk.
- November 2024: Musk is selected to lead the DOGE task force by President Trump.
The intersection of political support, public backlash, and financial volatility underscores the complex landscape Tesla and its stakeholders are navigating. As the situation continues to unfold, it will be important to watch how these factors influence the company’s future.
