If You Invested $1,000 In Tesla Stock When Donald Trump Said EV Owners Become 'Somewhat Schizophrenic,' Here's How Much You'd Have Now

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President Donald Trump has been critical of electric vehicles over the years, which may explain why many people were surprised when he bought a Tesla Inc (NASDAQ:TSLA) vehicle he can't drive and publicly endorsed the electric vehicle company at the White House.

Here's a look back at some of Trump's harshest criticisms of electric vehicles in recent years.

What Happened: Similarly to reversing course and public criticism on Bitcoin, Trump may have also had a change of heart when it comes to electric vehicles.

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For electric vehicles, Trump's past criticism turned to support, mainly for Tesla Inc. and CEO Elon Musk. This support, of course, comes from Musk, who supported Trump financially during his 2024 presidential election campaign and now helps the White House administration with the Department of Government Efficiency.

Trump recently paid back Musk's support with a White House event featuring several Tesla vehicles. The president bought an EV for his staff while telling reporters and the public he supports Tesla and hopes the stock price goes up.

This support starkly contrasts Trump’s comments in 2023 and during his 2024 campaign trail.

At a Town Hall with Fox News host Sean Hannity in December 2023, Trump criticized electric vehicles. "They have so many electric vehicles. Nobody wants to buy them," he said.

Trump, who noted the government was subsidizing electric vehicles, said they should be sold alongside hybrids and combustion-engine gasoline cars.

On Christmas Day 2023, Trump posted a series of posts on social media platform Truth Social that took on several people and industries.

Among those attacked were "All Electric Car Lunacy," one of many groups Trump said was trying to destroy the country.

"MAY THEY ROT IN HELL," Trump said of the people and industries he named in the post.

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One of Trump's harsher attacks on EVs and their owners came at an Iowa campaign stop on Oct. 1, 2023.

"The happiest people in the world are the people who just got their electric vehicle charged, for ten minutes," Trump said, as reported by the Iowa Capital Dispatch. "After that, they become somewhat schizophrenic because they're thinking about where the hell am I going to get a recharge."

Trump also criticized electric boats in that speech, when he famously said boat batteries were too heavy and the boats could sink leaving owners with the choice of electrocution or a shark.

Investing $1,000 in Tesla Stock: Investors who thought Trump was right in his criticism of electric vehicles may have decided to avoid stocks like Tesla in 2023.

Likewise, investors who thought Trump was wrong and saw demand for electric vehicles may have considered investing in Tesla stock at the time.

A $1,000 investment in Tesla stock could have bought 4.08 TSLA shares on the morning of Oct. 2, the day after Trump's comments in Iowa.

The $1,000 investment would be worth $1,112.82 today, up 11.3%. While that doesn't mark a huge gain, the investment would have been up 99.3% back in December, when Tesla shares hit all-time highs after Trump’s 2024 presidential election win.

Going forward, Tesla could be a potential winner from Trump's presidency. The president will likely ensure that the regulatory environment is positive for Musk and the company.

Trump previously called for a ban on autonomous vehicles on roads, but he has since changed his tune in that regard, as Musk is counting on autonomous vehicles as one of the top pillars of growth for Tesla going forward.

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This article If You Invested $1,000 In Tesla Stock When Donald Trump Said EV Owners Become 'Somewhat Schizophrenic,' Here's How Much You'd Have Now originally appeared on Benzinga.com

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