Tesla's Gamble on MAGA Customers Won't Work

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29. Gravity may be finally catching up to Elon Musk as Tesla stock tumbles

Anyone not ditching their Tesla stock isn't paying attention to the signals that are now everywhere as to how this will end for Musk—namely, very badly. Americans won't stand for a coup orchestrated by a fascist, sociopathic South African centibillionaire.

Gravity may be finally catching up to Elon Musk as Tesla stock tumbles

www.cnn.com/2025/03/19/b...

— Jerry Chamberlain (@jezparker.bsky.social) 2025-03-19T18:39:09.568Z

Link to tweet

https://www.cnn.com/2025/03/19/business/elon-musk-tesla-stock-nightcap/index.html

Elon Musk’s DC power grab hasn’t been the Tesla-stock jet fuel investors were expecting.

Tesla shares have fallen more than 40% since January — erasing all of the “Trump bump” that briefly saw the stock gain more than 90% after Election Day. Musk, whose wealth is overwhelmingly linked to his Tesla holdings, has personally lost $121 billion from his net worth over the past three months.

So what happened? Why hasn’t Musk’s rapid ascent into oligarch territory helped rescue his “baby” (as President Trump called Tesla during the pair’s bizarre ad-like press conference last week on the South Lawn)?

There are two main reasons:

Tesla sales are cratering around the world, and…
Its CEO isn’t doing anything to stop it.

While Musk is holed up in the EEOB looking for ways to break the federal government, Tesla’s core business is in crisis......

A CNN poll last week found that 53% of Americans have a negative view of Musk, while roughly 60% say he has neither the right experience nor the right judgment to make the kinds of sweeping cuts his “department” is carrying out.....

Prices on pre-owned Teslas are falling at more than double the rate of the average car, according to research by CarGurus. Used cars overall have fallen 2.7% year over year, while used Teslas have declined 7.3%. A used Cybertruck, Tesla’s head-scratching experiment in car design that looks like it was based on a dare, is worth a whopping 58% less on the resale market......

Musk has made his name synonymous with Tesla — a fact that served them both well when Tesla seemed unstoppable and Musk became the world’s richest person.

But Tesla no longer seems unstoppable, and Musk no longer seems stable. That could prove a toxic pairing.