Elon Musk, CEO of Tesla, urges employees to “hold on” to the company’s stocks. Despite a sharp drop in sales, a series of safety recalls, and multiple incidents of malicious sabotage, Musk believes that Tesla’s future is still “incredibly bright.”
Previously, Commerce Secretary Howard Lutnick also urged Fox News viewers to buy Tesla stocks.
In the United States and Europe, people are selling Tesla stocks in protest against Musk and his government efficiency department (DOGE) assisting President Trump in streamlining federal agencies, reducing staff, cutting federal spending, reducing deficits, and supporting the right-wing AfD party in Germany. Stakeholders are taking advantage of the situation to retaliate against Musk.
In recent months, as Tesla’s sales have drastically declined in major European markets, a “talisman” car sticker with the words “I bought this car before Elon went crazy” has been selling hot on Amazon. Tesla is also facing multiple regulatory investigations related to complaints about its driver-assist system functionality. On Thursday, Tesla issued a recall for over 46,000 Cybertrucks in the US to replace external panels that could detach while driving.
Despite these challenges, Musk remains confident. He told employees, “Sometimes there may be bumps in the road, but I want to tell everyone that Tesla’s future is very bright and exciting!”
The company’s stock price rose over 2% on Friday, reaching a market value of $760 billion.
Musk had previously stated that Tesla’s shift in autonomous driving and artificial intelligence could potentially value the company at $500 billion.
He said, “I believe within five years, we may receive regulatory approval globally, so there will be Tesla’s with autonomous driving on every continent.” He encouraged employees to “hold onto your stocks.”
Despite Tesla facing difficulties, Musk remains confident in the mission of the government efficiency department.
He admitted to facing life-threatening risks due to his heavy involvement in federal government work, as some may want him dead because he is “stopping their fraud.” Speaking to Fox News’ Sean Hannity on March 18, he said, “When you expose, stop their fraud, recover the money they got by fraud, they get very uneasy, they want to kill me, they want to harm Tesla.”
He added, “We are stopping terrible waste and corruption in the government, they are bad people, bad people do bad things.”
He mentioned that government fraud is “very serious,” leading to a $2 trillion deficit annually. He expressed concern that the US could go bankrupt due to “corrupt waste.” He lamented, “Our debt costs have risen to the point where interest payments alone exceed the entire military budget and the situation is getting out of control, so the country is on the verge of bankruptcy.”