Summary
Elon Musk gave Donald Trump a scripted sales pitch during a White House event where Trump inspected Teslas.
Photographers captured Trump holding notes with phrases like “SAFEST car” and “affordable.” The stunt followed a 15% drop in Tesla’s stock, linked to backlash over Musk’s involvement in DOGE.
Trump defended Musk on Truth Social, blaming the decline on a “Radical Left” boycott.
Meanwhile, Musk’s other ventures, including X and SpaceX, are struggling with outages and test failures.
Respectfully disagree that this is a correction. To me correction implies that the stock was more or less fairly valued prior to the correction.
~not investment advice~
Elmo has hyperinflated his stock by lying repeatedly, documented for years. He has created such a massive awkward autistic echo chamber that a bunch of “the end is nigh people” began believing he’s the messiah to save us from Earth (let that sink in) and bring us to the promised glorious utopian paradise with luscious field, fertile lands and epic waterfalls… eh… Mars. This spinning is Elmo’s only true value and why the boards of his companies put up with him.
Both Musk and Trump have this reality distortion field like Jobs had, but there’s almost nothing of substance underneath.
I don’t think this market is correcting. It may look like it for a while. The AI bubble and companies like Musk who are valued by groupies, not investors may actually really crash mush harder.