US President Donald Trump’s administration is pushing Tesla’s struggling stock, just days after the company recalled nearly all Cybertrucks in the US due to a potential safety issue. Commerce Secretary Howard Lutnick urged viewers on Fox News to buy Tesla’s stock, claiming it would “never be this cheap again”. The recall, filed with the National Highway and Traffic Safety Administration, affects around 46,000 Cybertrucks built between November 2023 and February 27.
The move comes as Elon Musk, Tesla’s CEO, faces intense backlash for his handling of federal contracts and government agencies. Critics argue that Musk is using his influence to gain an unfair advantage over competitors. The US President has also been accused of attempting to protect Musk financially by promoting the company’s stock.
As Tesla’s stock price tumbles, it remains unclear how the company can separate itself from Musk’s involvement in government affairs. With boycotts and protests against Musk’s companies escalating, many are questioning whether Tesla’s financial future is tied to its CEO’s actions.
Source: https://www.rollingstone.com/politics/politics-news/tesla-recalls-cybertrucks-team-trump-pump-stock-1235300104