After one of the worst single day sell-offs in Tesla's history, President Donald Trump threw his support behind his advisor, billionaire Elon Musk, vowing to buy one of his cars on Tuesday.
Tesla has been pummelled this year under competition from rival electric vehicles, particularly out of China, as well as his close association with Trump and with far right causes globally.
Shares have plummeted 45 per cent in 2025 and on Monday tumbled more than 15 per cent to USD 222.15, the lowest since late October, reflecting newfound pessimism as sales crater around the globe.
In an overnight post on his Truth Social platform, Trump said Musk is putting it on the line to help the country. Trump claimed in the post that Radical Left Lunatics were attempting to illegally and collusively boycott Tesla, one of the World's great automakers, and Elon's baby".
The stock climbed more than 3 per cent before the market open on Tuesday.
Numerous auto industry analysts have attributed Tesla's recent