Tesla Inc. CEO Elon Musk has slammed Minnesota Governor Tim Walz for mocking the decline in Tesla’s stock price. During an interview, Musk called the governor “evil” for deriving joy from the situation.
Background
Musk’s comments were in response to an event held by Walz in Wisconsin on March 18, where the governor joked about Tesla’s sliding stock. Walz quipped, “On the iPhone, they’ve got that little stock app. I added Tesla to it to give me a little boost during the day. $225 and dropping,” as the crowd laughed.
Musk’s Reaction
Musk did not take the joke lightly, stating, “I mean, you have Tim Walz, who’s a huge jerk, you know, running around on stage with the Tesla stock price, where the stock price had gone in half.” He further criticized the governor, saying, “What an evil thing to do, what a creep, what a jerk. Like, who derives joy from that?”
Significance
The dispute comes as Tesla’s stock has plummeted over 30.51% year-to-date due to waning demand for electric vehicles, pricing pressures, and concerns over a reported $1.4 billion gap in capital expenditures.
Walz’s Response
Walz has commented on the backlash, saying, “I have to be careful about being a smart aleck. I was making a joke. These people have no sense of humor.” However, his remarks were criticized by Kevin O’Leary, who called them “beyond stupid,” noting that Minnesota’s State Board of Investment owns about 1.6 million Tesla shares through its retirement fund.
Impact on Tesla’s Stock
Tesla’s stock fell 3.51% during Friday’s regular trading session, closing at $263.55, and slipped another 1.34% in after-hours trading to $260.02. Over the past year, the stock has climbed 50.41%.
Conclusion
The dispute between Elon Musk and Minnesota Governor Tim Walz highlights the intense scrutiny and criticism that Tesla faces in the electric vehicle market. As the company navigates challenges and controversies, its stock price continues to fluctuate, leaving investors and observers wondering what the future holds for the EV giant.