Commerce Secretary Urges Investment in Tesla as Stock Hits Low
Commerce Secretary Howard Lutnick has made a bold recommendation to investors, urging them to consider purchasing Tesla stock amid its recent price decline. In an interview on Fox News’ “Jesse Watters Primetime,” Lutnick described the current low price as a rare opportunity for investors.
Tesla shares have experienced a significant downturn, with the stock price plummeting over 50% from its peak in mid-December. The electric vehicle manufacturer’s stock closed at approximately $235, a stark contrast to its previous high of $479.
Lutnick expressed enthusiasm for Elon Musk’s technological innovations, including advancements in robotics. He suggested that future market analysts might view the current stock price as a missed opportunity for potential investors.
This is not the first time Lutnick has shown support for Musk. Previously, he had advocated for Musk to be considered for a government position, indicating a consistent backing of the tech entrepreneur’s initiatives.
The decline in Tesla’s stock price has been attributed to weakening sales and controversies surrounding Musk’s political engagements. Despite these challenges, Lutnick’s endorsement aligns with a broader political narrative of support for Musk and his ventures.
Other high-profile figures have also demonstrated their backing for Tesla. Former President Trump recently purchased a Tesla Model S and hosted an event featuring Tesla vehicles at the White House, signaling political support for the company.
Musk himself has been vocal about the political climate surrounding Tesla, expressing surprise at the hostility from the political left, citing protests and vandalism at Tesla dealerships.
As Tesla navigates these market and political challenges, Lutnick and other officials maintain their confidence in Musk’s leadership and the company’s future prospects. The situation underscores the complex interplay of political and market dynamics influencing Tesla’s public perception and stock performance.
