Tesla in Trouble: Stocks Drop in Value as Anti-Musk Sentiment Surges

Tesla owners are using bumper stickers to show their lack of support for Musk. Photo by Ethan Roy '26.

Tesla stock values have been on a steep and steady decline throughout the start of 2025; as of April 8, the value of a Tesla stock share is $221.86, down by more than half since the company’s record high of $479.86 on Dec. 17. 

Overall, the company is estimated to have lost a staggering $800 billion. Much of this dropoff is connected to the actions of Tesla’s longtime CEO and President Donald Trump’s political advisor, Elon Musk.

Musk started as a leading investor in Tesla before becoming the company's fourth CEO in 2008. He remains the company’s CEO and prominent figurehead to this day. However, his new role in the U.S. government has received intense backlash.

Trump appointed Musk as a “senior advisor to the President” on Feb. 11. Alongside being Trump’s right-hand man, Musk unofficially heads the Department of Government Efficiency (DOGE), an organization created to slim down the government workforce and reduce unnecessary spending.

However, DOGE’s slash-and-burn firing method has been criticized as careless and erroneous. Head of Health and Human Services, Robert Kennedy Jr., indicated that DOGE made errors by cutting personnel who should not have been cut. Acknowledging the mistakes, Musk said, “We are moving fast, so we will make mistakes, but we’ll also fix the mistakes very quickly.”

Musk has also been gaining attention for his controversial involvement in other political endeavors, questionable stage antics and overall bizarre character.

At a political event, he held up what many believed to be a Nazi salute and at a political conference, he held up the “Chainsaw of Bureaucracy,” yelling “Chainsaw!” 

On stage in Wisconsin, Musk backed Brad Schimel, the Republican candidate in the state’s Supreme Court election, while wearing a gigantic foam cheese hat and giving $1 million checks to two rally attendees, which led to vote-buying accusations. He has also been criticized for supporting right-wing organizations, including appearing over video at a rally for Germany’s far-right political party, Alternative für Deutschland. 

The actions of DOGE and Musk have fueled widespread protest. On April 5, there were 1,200 “Hands-Off” demonstrations across America. Tens of thousands gathered in Los Angeles, Chicago, Boston and New York City. 

Americans protest against DOGE and Musk at a "Tesla Takedown" event in Washington, D.C. Photo by Geoff Livingston from Flickr.

“[Trump and Musk] are taking everything they can get their hands on – our health care, our data, our jobs, our services – and daring the world to stop them,” said one organizer. 

Musk not being elected nor senate-approved is also a reason for Americans’ anger, alongside tariff plans and regular breaches of the U.S. Constitution. “Tesla Takedown” protests have also been happening since late March and international demonstrations against the company have taken place in the UK, Germany, France, Italy, Portugal and Canada.

Despite most of these events being peaceful, there have been occasional cases of violence and vandalism, like swastikas being spray-painted on Tesla cars and arson at dealerships.  These actions have been labelled by President Trump as “domestic terrorism.”

Tesla drivers have also reported being harassed and are scared or embarrassed to drive their cars. Many of those who bought their car before Musk was involved in politics are putting “Bought This Car Before Elon Went Crazy” bumper stickers on their vehicles.

It has been suggested that Musk leave the government and return to his other jobs before his 130-day allotment as a special government employee ends. However, some suggest that the damage done to Tesla’s brand image and his reputation is too much, and that he should step down from the CEO position.

Whether or not this happens, it remains clear that the unpredictability of Musk’s words, actions, political stunts and political views are all “unpleasant for investors,” and to invest in Tesla is to invest in an unpredictable future.