Donald Trump put Tesla squarely in the middle of MAGA culture wars by announcing he'll buy one Tuesday as the automaker's stocks tumbled.
Tesla shares plunged Monday as owner Elon Musk's role in Trump's administration angered and alienated many would-be buyers and left existing owners worried about vandalism and harassment. Trump tried to goose demand by making the electric vehicle a MAGA badge of honor.
"To Republicans, Conservatives, and all great Americans, Elon Musk is 'putting it on the line' in order to help our Nation, and he is doing a FANTASTIC JOB!" Trump posted at 12:14 p.m. EST on Truth Social. "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. They tried to do it to me at the 2024 Presidential Ballot Box, but how did that work out?"
Tesla shares tumbled more than 15 percent Monday, dropping the price 53 percent lower than their Dec. 23 high, and the company is 11 percent below where it closed the day Trump was elected, as the South Africa-born Musk has made himself politically toxic outside the president's base of support by cutting government spending with the Department of Government Efficiency and making apparent Nazi salutes.
"In any event, I’m going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American," Trump posted. "Why should he be punished for putting his tremendous skills to work in order to help MAKE AMERICA GREAT AGAIN???"