Elon Musk Blames Political Views for Tesla’s Stock Decline

Los Angeles, CA — Elon Musk, the world’s richest man, expressed his frustration Monday night on his social media platform about the waning interest in his companies, attributing it to his far-right political views. The controversial billionaire stated, “My companies make great products that people love and I’ve never physically hurt anyone. So why the hate and violence against me?” He further claimed he poses a “deadly threat to the woke mind parasite and the humans it controls.” A stark indicator of Musk’s challenges came as Tesla shares continued their downward trend amidst stiff competition and a brand boycott.

As of Monday, Tesla’s stock has plummeted by 50% this year, influenced largely by a brand boycott linked to Musk’s recent political stance, critics argue. Despite Tesla’s previous appeal to a more liberal customer base, sales have dropped dramatically in major markets. In Germany, sales fell by over 70% in the last two months, while in China, they have decreased by 49% in February alone.

Industry analysts attribute the drop in demand not just to Musk’s controversial persona but also to effective competitors like BYD, which has unveiled a battery system capable of charging electric vehicles for 249 miles in just five minutes. Vijay Rakesh, managing director at Mizuho Securities, commented, “We believe Tesla’s sales woes are the result of a deterioration in geopolitics, brand perception, share loss due to stronger competition, and softer-than-expected demand for the Model Y refresh.” Rakesh has adjusted the firm’s price target for Tesla down by $85, indicating growing concerns about the future.

Investor sentiment has also soured, leading to a significant turnover within Tesla’s leadership. Four high-profile executives, including James Murdoch and Musk’s brother Kimbal Musk, sold over $100 million in stock within the last month. This exodus suggests a lack of confidence in the company’s prospects.

Despite these setbacks, Musk continues to assert that he has political allies. Recently, Trump used the White House as a backdrop for what appeared to be a promotional event for Tesla, raising questions about the intertwining of business and politics. According to White House press secretary Karoline Leavitt, the event involved multiple Tesla vehicles in the White House driveway, even as analysts question the ethical implications surrounding this relationship.

Meanwhile, Musk’s Starlink internet service is reportedly being used across the White House complex. This arrangement has sparked ethical concerns around data security and conflicts of interest. White House staffers and former officials have expressed skepticism about the appropriateness of such an arrangement given Musk’s existing government contracts.

In another controversial move, Musk’s team recently took control of the U.S. Institute of Peace (USIP), previously an independent nonprofit organization, igniting discussions over the implication of such a takeover and its effects on U.S. foreign policy. Greg Moose, the ousted president of USIP, stated, “What has happened here today is an illegal takeover by elements of the executive branch of a private nonprofit. It was very clear that there were desires from the administration to dismantle foreign assistance initiatives.” The White House defended the action, citing the removal of members who did not comply with the administration’s directives.