By WSJ Staff
President Trump said Elon Musk was doing a fantastic job and vowed to buy a new Tesla, after a steep selloff in the shares of Musk's electric-vehicle company.
"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 on his Truth Social platform. He said the carmaker had faced attempts to "illegally and collusively boycott Tesla."
Tesla stock $(TSLA)$ tumbled 15% Monday, notching its worst day since 2020 and taking year-to-date losses to 45%. The stock rose modestly in premarket trading Tuesday.
Tesla stock has been hit by weak sales data, and by concerns over the role Musk is playing in the Trump administration, as the head of the Department of Government Efficiency.
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March 11, 2025 04:54 ET (08:54 GMT)
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