Tesla's Plummeting Stock Just Hit a Level That Lutnick Said Would 'Never' Happen
a year ago
- #Stock Market
- #Elon Musk
- #Tesla
- Tesla's stock dropped 10% to $214.80, hitting a new low after Commerce Secretary Howard Lutnick's recommendation.
- Lutnick praised Elon Musk on Fox News, urging viewers to buy Tesla stock, calling it 'unbelievably cheap.'
- Tesla shares have fallen over 40% this year due to Musk's Trump ties and competition in the EV market.
- Musk's controversial actions, including fascist salutes and leading the DOGE task force, have hurt Tesla's image.
- Lutnick suggested Tesla's stock plunge was temporary, predicting a rebound once Musk's projects gain recognition.
- Critics questioned Lutnick's ethics, with David Frum suggesting potential violations if he owned Tesla stock.
- MAGA billionaire Bill Ackman accused Lutnick of profiting from economic downturns and ignoring market crashes.