Tesla (NASDAQ:TSLA) had a rollercoaster day on Monday, with its stock bouncing between $220.00 and $253.37. Investors were all over the place, reacting to concerns about Tesla's upcoming Q1 deliveries report, which some fear could disappoint. By the afternoon, shares had tumbled 15%the biggest drop since September 2020before making a partial comeback.
The rebound came after former President Donald Trump threw his support behind Tesla and CEO Elon Musk. In a post on Truth Social, Trump announced he's buying a Tesla, calling Musk a truly great American while slamming what he described as radical left lunatics going after the company.
Musk, who also runs the Department of Government Efficiency (DOGE), has been in the spotlight for his political ties, including donations to Trump's campaign. That's sparked calls for boycotts and even protests outside Tesla locations, with signs reading Boycott Tesla and Drive out Musk.
Despite the noise, Musk took to X to reassure investors, saying Tesla will be fine long-term. Still, with controversy swirling and market jitters in play, all eyes are on how the company's next earnings report shakes out.
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