Tesla's Stock Takes a Hit: Investors Point Fingers at Musk's Politics

Tesla's stock has been on a wild ride this year, and investors are pointing to Elon Musk's political activities as a major cause for concern. A recent poll found that a whopping 85% of investors think Musk's political stances are hurting the company's core business. The poll was conducted by a financial expert and sent out to a select group of investors. This is a big deal because Tesla's stock has dropped by more than a third since the start of the year. Only a small fraction of investors, about 3%, see Musk's politics as a positive for the business. The rest, around 12%, think they don't make much of a difference. The survey also revealed that most investors expect Tesla's deliveries to decrease this year. This is a significant shift, as Tesla has been known for its rapid growth and innovation in the electric vehicle (EV) market. The recent drop in Tesla's stock price was the worst in five years, causing some shareholders to call for a change in leadership. Pension fund managers are also voicing their concerns. They argue that Musk's involvement with Dogecoin, a cryptocurrency, is turning off potential Tesla buyers. This is a big issue because Tesla has been a leader in the EV market, and any loss of potential buyers could impact its growth. Brad Lander, who oversees a significant amount of Tesla stock through pension funds, has expressed his concerns. Lander, who is running for mayor, believes that Tesla needs a CEO focused on selling EVs and growing the company. He thinks Musk's priorities are misplaced, and this could affect the company's future. Tesla's future is uncertain, and investors are watching closely. The company's success has always been tied to its innovative technology and Musk's leadership. However, the recent events have raised questions about whether Musk's political activities and other ventures are distracting him from running Tesla effectively. The company's ability to innovate and grow will be crucial in the coming years, especially as more competitors enter the EV market. The recent survey highlights the need for Tesla to address these concerns and refocus on its core business.