In an interview with Fox News, US Secretary of Commerce Howard Lutnick urged viewers to purchase Tesla (TSLA) stock. This comes over a week after President Trump — alongside Tesla CEO and Department of Government Efficiency (DOGE) head Elon Musk — endorsed the EV brand in an event at the White House.
Yahoo Finance senior columnist Rick Newman comments on this behavior from the Trump administration.
Tesla shares have fallen by over 40% year-to-date in 2025 as Musk implored employees to “hang onto” their stock in an all-hands meeting on Thursday. Wedbush’s Dan Ives — who has been bullish on the electric vehicle stock — argued that Elon Musk should “change course” and focus more on Tesla over his work in the Trump administration.
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