Summary
Elon Musk lashed out online Monday as Tesla stock plunged over 15%, wiping out its post-election rally and shedding 50% of its value since December.
Investors worried about market declines, recession fears, and Tesla’s growing controversy after Musk’s far-right rhetoric and mass government layoffs.
Musk falsely claimed Democratic donors funded anti-Tesla protests and linked critics to Jeffrey Epstein. He amplified conspiracy theories blaming arson attacks on Democrats.
Despite his efforts, Tesla’s collapse cost Musk $23 billion in a single day.
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Republicans thought government employees needing to divest was just to keep them from making money…
They never realized the reason high ranking government officials shouldn’t be invested in private companies like this, is people will fuck your private company up when you do things people don’t like.
Not to mention that once federal employees found out Tesla was in our main index, lots of people pulled their retirement out of stocks and put it in the “safe” index. Even if you don’t care about Musk and Tesla, when it’s obvious the market is gonna crash, people pull their funds.