Tim Waltz makes fun of Tesla stock, Elon Musk replies with a 'JD Vance joke'

TOI Tech Desk / TIMESOFINDIA.COM / Updated: Mar 23, 2025, 17:12 IST

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Elon Musk responded to Minnesota Governor Tim Walz’s mockery of Tesla’s falling stock price with a pointed remark. Tesla's stock has dropped 44% year-to-date amid concerns over sales, competition, and Musk's distractions like Dogecoin. RBC Capital Markets cut Tesla's price target by 27%, reflecting lower expectations for its technology rollout.

Tim Waltz makes fun of Tesla stock, Elon Musk replies with a 'JD Vance joke'

Elon Musk has fired back at Minnesota Governor Tim Walz after Walz took a jab at Tesla's plummeting stock price. The electric vehicle giant has seen its stock tumble 44% year-to-date, driven by slowing sales, increased competition, and Musk’s ongoing involvement with Dogecoin (DOGE), which has drawn criticism from investors. Mocking Tesla’s struggles, Walz posted on X: “If you need a little boost during the day, check out Tesla stock.�?He also posted a video joking about adding Tesla to the Stocks app on his iPhone to track its decline, saying, �?25 and dropping.�?br/>Taking the joke further, Walz added: “If you own one, we’re not blaming you. You can take dental floss and pull the Tesla thing off, you know.�?br/>

Elon Musk reply to Tim Walz has a 'JD Vance joke'

Responding to Walz, the tech billionaire wrote, “Sometimes when I need a little boost, I look at the @JDVance portrait in the @WhiteHouse and thank the Lord�? The comment was a not-so-subtle swipe at Tim Walz, the Democratic governor of Minnesota, a longtime advocate for progressive policies and a key ally of Kamala Harris, who was her running mate in last year’s election. Walz, a former congressman and National Guard veteran, has been a vocal critic of the current administration’s stance on technology regulations and economic policy, making him a frequent target of conservative figures

Tesla’s declining stock price

Tesla’s declining stock price has been a sore point for investors, with concerns over demand, price cuts, and Musk’s distractions outside of Tesla continuing to weigh on the company’s market performance. On Tuesday (March 19), RBC Capital Markets reduced Tesla's price target by 27% from $440 to $320, citing lower expectations for its self-driving software and robotaxi rollout in China and Europe. Despite this reduction, the new price target still implies a 39% upside from Monday's closing price of $238.01.
During a recent interview with Fox Business�?Larry Kudlow, Musk looked visibly uneasy and emotional when asked about the struggles of his companies. He admitted he was managing multiple businesses “with great difficulty�?br/>

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