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Trump's efforts to help Tesla could hurt it instead
Shares of Tesla slid again Monday as confidence in Elon Musk’s electric car company continues to disintegrate following a post-election “Trump bump.”
“Tesla is becoming a political symbol of Trump and DOGE, and that is a bad thing for the brand,” said Wedbush Securities financial analyst Dan Ives, referring to the advisory group in charge of cutting government spending led by Musk. Tesla’s stock began rising from the opening Tuesday after Trump posted overnight on his Truth Social platform that Musk was “putting it on the line” to help the country. Trump claimed in the post that “Radical Left Lunatics” were attempting to “illegally and collusively boycott Tesla, one of the World’s great automakers, and Elon’s ’baby.’”
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