Minnesota Governor and former vice presidential candidate Tim Walz mocked billionaire Elon Musk, telling a crowd in Wisconsin about how he's found a nice little pick-me-up for his dayâby adding Tesla to the stock app on his phone.
Walz's remarks came as news outlets reported that Tesla shares have plunged over 40% since January, wiping out the entire âTrump bumpâ that had temporarily driven the stock up more than 90% following Election Day. Musk, whose fortune is largely tied to his Tesla holdings, has seen his personal net worth shrink by a staggering $121 billion in just three months.
After reporting its first-ever decline in global sales last year, Teslaâs outlook for this year isnât much better. Analysts from major firmsâincluding RBC, UBS, Goldman Sachs, Mizuho, and JPMorganâhave all cut their delivery forecasts for the company.
This was on Walz's mind as he spoke at a town hall event in Eau Claire, joking:
"I know you've noticed on the iPhone they've got that little stock app. I added Tesla to give me a boost during the day. 225 and dropping."
"If you own one, we're not blaming you. You can take dental floss and pull the Tesla thing off, just telling you."
You can hear what he said in the video below.
@timwalz If you need a little boost during the day, check out Tesla stock đ
It was hilarious.
Walz later took to X with the following message underscoring his point:
"Wisconsin knows we need to get money and Musk out of politics."
You can see his post below.
Many loved his response.
Teslaâs troubles deepened on Monday with a double dose of bad news from China.
Its top Chinese competitor, BYD, introduced a new charging system capable of delivering 250 miles of range in just five minutesâtwice as fast as Teslaâs chargers. That same day, Tesla rolled out a free month-long trial of its âFull Self-Drivingâ software in China, an apparent attempt to claw back its shrinking market share.
The companyâs stock dropped 5% in the U.S. on Monday, followed by another 5% on Tuesday after RBC slashed its price target, citing intensifying domestic competition.
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