US: Tesla supporters online have shared they’re holding onto their stocks and even buying more shares after CEO Elon Musk urged employees to “hang on to your stock” despite the company’s shares dropping over 50% in just three months.
During a live-streamed “all-hands” Q1 2025 meeting on X, held on Thursday (Mar 20), he described the situation as “a little bit of stormy weather” but assured employees that “the future is incredibly bright and exciting” for the company, as reported by Bloomberg.
“There are times when there are rocky moments, but what I’m here to tell you is that the future is incredibly bright and exciting, and we’re going to do things that no one has even dreamt of,” he said to his employees.
He also reiterated his 2016 claim that Teslas are just a software update away from self-driving capability, even though the company has yet to deliver on this promise.
The Tesla CEO joked that he could not walk past a television without seeing a Tesla “on fire,” mocking critics who have targeted the company, noting that the act was “a bit unreasonable.” He added, “I understand if you don’t want to buy our product, but you don’t have to burn it down.”
Following Mr Musk’s comments, Tesla supporters online echoed his words and encouraged other investors to hold on to their stock. Many said they were buying more. One supporter said, “It’s going to be huge! I’m buying as much stock as I can now.” Another, a new investor, shared, “I bought my first Tesla stock yesterday… keep up the quality work.” Another commenter added, “The future looks bright for this tech giant!”
Tesla’s shares had dropped from a record US$479.86 (S$642.88) on Dec 17 to US$240.48 at the start of regular trading on Friday.
The decline came amid growing concerns about Mr Musk’s involvement with US President Donald Trump’s administration, which led to protests against Tesla in the US and Europe. Protesters targeted Tesla showrooms, vehicles, and charging stations.
At the same time, Tesla’s sales and shipments, which are usually slower in the first quarter, fell sharply in key markets. This was partly due to political backlash, but another reason was Tesla pausing production of its Model Y to upgrade production lines for a redesigned version. Mr Musk, however, pointed out that Tesla’s Model Y, in terms of popularity, remains the “best-selling car on Earth” of any kind.
Tesla has said it plans to launch more affordable models in the first half of the year but has not shared details about these vehicles.
The Tesla CEO’s connection to US President Trump has added to Tesla’s challenges.
The backlash against the Tesla CEO led US President Trump to organise a parade of Teslas on the White House’s South Lawn. This week, Commerce Secretary Howard Lutnick appeared on Fox News, urging viewers to buy Tesla shares, calling the price a rare bargain.
Wedbush Securities analyst and longtime Tesla supporter Dan Ives said the meeting was Mr Musk’s first step in showing that he plans to guide Tesla through this challenging period.
However, Mr Ives recently criticised Mr Musk, advising him to distance himself from the Trump administration and focus on Tesla, warning that the situation had become a “tornado crisis moment” for Tesla and him.
When asked by an employee if he would consider getting into aviation, Mr Musk said it was something he had thought about for a long time. “Maybe we’ll do that,” he added. /TISG
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