Tesla Rebounds After Trump Backs Musk Amid Leftist Attacks
Tesla’s stock rebounded Tuesday after President Donald Trump defended CEO Elon Musk against political and financial attacks, even bringing a Tesla to the White House to show support.
Musk has been facing mounting pressure from leftist activists following his work with the Trump administration, including his leadership of the Department of Government Efficiency (DOGE). The backlash, combined with sluggish sales and concerns over Musk’s divided attention between Tesla, SpaceX, and his social media platform X, led to a sharp decline in Tesla’s stock on Monday. However, after Trump’s vocal defense, Tesla shares climbed nearly 5% by midday Tuesday.
Trump took to Truth Social to slam what he described as an “illegal” boycott of Tesla by the “Radical Left Lunatics,” arguing that Musk was being unfairly targeted.
“Elon 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,” Trump wrote.
In a show of confidence, Trump announced that he would personally purchase a Tesla. “Why should he be punished for putting his tremendous skills to work in order to help MAKE AMERICA GREAT AGAIN???” he added.
Musk’s role in DOGE, which aims to cut government waste, has drawn fierce opposition. Activists have targeted Tesla facilities nationwide, with violent attacks on dealerships and charging stations. In Oregon, police and the FBI are investigating a Tesla dealership that was riddled with bullets, while another in Salem was hit with a Molotov cocktail. In Massachusetts, Tesla charging stations have been set on fire.
On Monday, Tesla was also hit by a cyberattack. Musk confirmed the platform had suffered a “massive cyberattack” requiring significant resources to combat. He suggested it was launched by a “large, coordinated group and/or a country.”
Despite these attacks, Musk remains a key figure in Trump’s administration, working to slash wasteful spending. His efforts to hold federal agencies accountable have made him a top target for the left, but Trump’s latest move signals that the administration is standing firmly behind him.
