Elon Musk’s recent social media activity has sparked fresh controversy as Tesla’s stock took a steep dive, marking one of its worst trading days since going public in 2010.
On Monday, Musk’s X (formerly Twitter) feed was a mix of political attacks, conspiracy theories, and Tesla promotions. Among posts criticizing Democrats and amplifying far-right figures, Musk shared multiple videos and endorsements of Tesla vehicles, including the Cybertruck and the upcoming Cybercab, a two-seater robotaxi slated for 2026. He also acknowledged recent vandalism at Tesla showrooms and alleged arson attacks, thanking supporters for standing by the company.
Tesla’s stock plunged over 15% on Monday, erasing the post-election rally that followed Donald Trump’s victory. Since peaking in December, the company’s market value has dropped by more than 50%, wiping out nearly $800 billion. While broader economic factors, including recession fears, have played a role, Musk’s growing political entanglements and controversial statements have made Tesla a lightning rod for criticism.
The backlash has coalesced into an organized protest movement, Tesla Takedown, which has been staging demonstrations at Tesla centers and encouraging a boycott. Musk, in response, has attempted to discredit the movement, claiming without evidence that it is funded by liberal billionaires through the Democratic fundraising platform ActBlue. He specifically named philanthropists George Soros, Reid Hoffman, and Leah Hunt-Hendrix, as well as two deceased figures, Herbert Sandler and Patricia Bauman. Hoffman publicly refuted Musk’s claims, calling them false and pointing out Musk’s unwillingness to acknowledge that his actions have consequences.
As tensions escalated, Musk continued to stoke controversy. He promoted misleading claims about historical ties between automakers like Volkswagen and the Nazi regime, accused Democratic organizations of orchestrating attacks on Tesla facilities, and spread an unverified conspiracy theory about arson at a Tesla lot in Seattle. Meanwhile, his social media platform, X, faced outages, which Musk attributed to a cyberattack without providing further details.
Despite Musk’s attempts to rally support, Tesla’s stock decline cost him a staggering $23 billion in a single day. With ongoing scrutiny over his leadership, political affiliations, and business decisions, Tesla faces mounting pressure to regain investor confidence in an increasingly volatile landscape.
