On March 12, Eastern Time, the three major U.S. stock indexes closed with mixed gains, with most large technology stocks rising. After U.S. President Trump’s strong stance, Tesla’s stock price rebounded rapidly.It closed up 7.59%, and Tesla's market value surged by US$56.3 billion (approximately RMB 408 billion) overnight.
On the 11th local time, Trump purchased a new Tesla Model S outside the White House to show his support for Musk and his company Tesla. On the same day, Tesla's stock price closed up nearly 4%.
According to CCTV Finance, multiple Tesla electric vehicles including Tesla Model S, Model Y and electric pickup truck arrived outside the White House. In the end, Trump chose a red Model S.
The retail price of the Model S starts at about US$80,000 (approximately RMB 580,000). Trump said that he will buy the car at full price without discounts and that the car will be used by White House staff. Trump said,He only wanted to help Musk and Tesla by buying Tesla.
In order to thank Trump for his support, Musk immediately issued a military order.Promises Tesla to double vehicle production within two years.
According to reports, currently, the Department of Government Efficiency led by Musk is drastically cutting federal spending and streamlining federal government agencies.
Recently, many people have boycotted Tesla due to dissatisfaction with Musk. Tesla's sales in Europe have also fallen sharply. Tesla's stock price has fallen for several consecutive weeks, halving from its previous high.
On the 10th local time,Tesla's stock price plunged more than 15% at the close, the largest single-day drop in more than four years, and its market value shrank by US$130 billion.