Elon Musk pleads with Tesla employees to ‘hang onto your stock’ as selloff intensifies
WASHINGTON, DC: Elon Musk urges Tesla employees to stay committed as the company’s stock continues to nosedive.
During a company-wide meeting on Thursday, the billionaire CEO sought to reassure workers that Tesla’s future is bright despite growing controversy and financial struggles, The Guardian reported.
Elon Musk urges Tesla employees to hold onto their stock as company faces crisis
“There are times when there are rocky moments,” Elon Musk acknowledged. “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 dreamed of.”
The plea comes as Tesla's stock price has plunged nearly 50%, driven by backlash over Musk's political ties, including his role in Donald Trump’s administration.
As head of DOGE, Musk has helped dismantle federal agencies and cut diversity, equity, and inclusion programs, sparking widespread protests.
The fallout isn’t just financial. Some Tesla owners are now trying to sell their vehicles in protest, while others have taken more extreme measures, vandalizing or even setting fire to Teslas. Security concerns have also led events like the Vancouver International Auto Show to exclude Tesla from its upcoming showcase.
“If you read the news, it feels like Armageddon,” Musk said during the meeting. “I understand if you don’t want to buy our product, but you don’t have to burn it down. That’s a bit unreasonable.”
He then added, “This is psycho, stop being psycho!” The employees chuckled along with him.
Cybertruck recall adds to investor concerns over Elon Musk’s leadership
Tesla faces another setback as it recalled 46,000 Cybertrucks over a safety defect. A stainless-steel trim panel can detach, posing a road hazard and sparking concerns about durability and design flaws. The company promises free replacements for affected vehicles.
This setback adds to Tesla’s ongoing struggles, which include declining stock prices, wavering investor confidence, and CEO Elon Musk’s increasingly polarizing political actions.
Some of Tesla’s largest financial backers are now openly questioning Musk’s leadership.
Dan Ives, a managing director at Wedbush Securities, described the situation as a “brand tornado crisis”, stating, “The brand damage started off as limited but now has spread globally into what we would call a brand tornado crisis moment for Musk and Tesla.”
With Tesla’s stock under pressure, Musk is urging employees to hold on to their shares, hoping to stabilize confidence in the company. “What I’m saying is hang on to your stock,” he added.
Elon Musk’s White House appearance with Donald Trump
Elon Musk has made controversial political moves, recently appearing at the White House with Donald Trump to promote Tesla. On Tuesday, March 11, 2025, Trump browsed Tesla’s lineup on the White House driveway, ultimately choosing a shiny red Model S as Musk joined him in the passenger seat.
“Wow,” Trump said as he eased into the driver’s seat. “That’s beautiful.” Musk joked about “giving the Secret Service a heart attack” as they discussed how to start the high-performance EV, which can accelerate from 0 to 60 mph in just a few seconds.
Trump even announced he planned to purchase a Tesla, writing a check on the spot further fueling debates about Musk’s political alignment and its impact on the company’s reputation.
