Tesla Stock Jumps After Trump Backs Musk at White House

Tesla shares surged nearly 4 percent after President Donald Trump defended CEO Elon Musk at a White House event. Facing protests and a brutal stock slide Trump brought a Tesla Model S to the driveway as a show of support. The rebound marks a rare bright spot for the automaker amid months of turmoil over Musks political ties.

The president praised Musk as a great American risking it all to help the nation via DOGE. Tesla had lost over half its market value since December hit by boycotts and falling sales. Trumps public endorsement and purchase of the 80000-dollar car aimed to boost confidence in the beleaguered company.

Musk joined Trump at the event vowing to double US production despite global sales dropping 76 percent in Germany. The Tesla Takedown protests have turned violent with arson and vandalism at dealerships nationwide. Trump labeled these acts domestic terrorism promising harsh penalties to protect the brand.

Investors cheered the presidents backing after Mondays 15 percent stock plunge the worst in over four years. Musks role in slashing federal jobs through DOGE has made Tesla a lightning rod for critics. The stock rally suggests Trumps support could stabilize its freefall at least temporarily.

Tesla once soared past 1.5 trillion dollars in value post-election but has shed most gains since January. Analysts warn the companys woes stem from both market shifts and Musks divisive government role. Trumps move may shore up loyalists but risks alienating buyers wary of the political baggage.

Musk shrugged off recent setbacks in a Fox Business interview citing resilience amid chaos. The White House event underscored his tight alliance with Trump who called boycotts illegal and collusive. Tesla hopes this high-profile boost can reverse its downward spiral and restore consumer trust.

Protests stem from Musks DOGE cuts axing agencies like USAID that aided global humanitarian efforts. Some see Trumps defense as a lifeline others as a desperate bid to prop up a failing icon. The stocks fate hinges on whether this rally holds or fades under ongoing pressure.

The Tesla rebound reflects Trumps sway but also the deep polarization tied to Musks leadership. Long-term success will demand more than symbolic gestures as the EV market grows fiercer. For now Musk and Trump celebrate a win while bracing for the next wave of challenges.