Elon Musk took to the social media platform he owns Monday night to vent about his alleged mistreatment.
But Musk had his own answer in mind.
Tesla shares continued to tumble on Monday as one of its Chinese competitors, BYD, unveiled a system that could charge electric vehicles for a range of 249 miles in just five minutes.
Company stock is down by 50 percent so far this year, and analysts have faulted Musk’s reputational shift for the automaker’s financial woes.
Last week, the automaker’s stock had its worst day since 2020, as its Musk-induced problems coincided with historic market volatility under Donald Trump’s new tariff plans.
Even Tesla bulls are slowing down on the electric car manufacturer. Mizuho Securities managing director and senior analyst Vijay Rakesh cut his firm’s price target for Tesla by $85 per share, according to Barron’s. In a statement, Rakesh pointed to Musk’s polarizing persona and his influence in “geopolitics” as two reasons for the downturn.
But despite Musk’s insistence on playing the victim, the multibillionaire still has the president on his side: Defying federal regulations, Trump used the White House last week as a backdrop for what was practically a Tesla commercial.
Several Tesla vehicles were parked in the White House driveway as Trump, joined by Musk and his son, answered reporters’ questions about his sudden affinity for the electric vehicle.
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