Tesla in Turmoil
By David and Sofian
Embedded Files
Elon Musk, the CEO of Tesla and the head of the Department of Government Efficiency (DOGE) is currently facing major backlash due to his political involvement and decisions causing Tesla stock prices to decrease.
Tesla Stock and Sales Decline
Tesla’s stock has experienced a major decline with a drop of 41.6% this year, making it the biggest loss in the S&P 500. Analysts say this is mostly due to Elon Musk's political involvement and controversies, causing sales to weaken and plummet. Dan Ives of Wedbush Securities, a long time Tesla supporter, has shown major concerns over Elon Musk’s management, suggesting that he should find a way to balance his roles at Tesla and DOGE to stabilize the company's poor performance.
Attacks on Tesla Dealerships
Anti-Tesla activists have escalated their beliefs with physical actions, with protesters planning over 500 protests at Tesla dealerships worldwide. These protests, which are against Elon Musk’s policies at DOGE, have been called by some officials as “domestic terrorism.” Although the organizers of these protests have claimed they are peaceful, the movement aims to impact Tesla’s financial status, hoping to pressure Elon Musk into reconsidering his political engagements.
Vandalism of Tesla Vehicles
Beyond the protests at the dealerships. Tesla vehicles around the country have been vandalized. In Seattle, for example, four Tesla CyberTrucks were set on fire, causing investigations by local authorities. These incidents show the increasing hatred against Elon Musk’s political affiliations and decisions.
X Cyberattacks
Elon Musk's social media platform X has been hit by multiple outages due to massive cyberattacks. These outages have not only disrupted user quality of life by not being able to use the platform, but they've also raised concerns about the platform's security infrastructure and how secure it really is. Elon Musk’s net worth reportedly declined by over $15 billion following these incidents, which is a large financial implication to someone even as rich as Elon.
DOGE Protests
Elon Musk’s leadership role of DOGE has recently sparked major controversy, specifically due to budget cuts that have affected social programs. Lots of critics argue that these choices have disproportionately harmed more vulnerable parts of the population while favoring the wealthier percentage. Furthermore, public figures like “Morning Joe” host Joe Scarborough have condemned these actions, saying they are “keeping Social Security intact for millionaires and billionaires — but going after food programs for children living in poverty.”
Student Poll on Elon’s Treatment
A recent poll that was conducted with the help of 50 students from Hillcrest High School has revealed a closely divided opinion on whether Elon Musk deserves his current backlash. 24 students believe he does, arguing that he only cares for society's top 1%. 26 students felt otherwise, with some of them saying that although he may be pushing government reforms that don't prioritize everyone, they still feel that it's not right for people to vandalize his company and their vehicles. One student who has chosen to stay anonymous said that, “although some of his public acts may seem out of hand, it's still important to not judge him by one thing because that wouldn't be fair to everything else he has done for our country and its development.”
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