The backlash caused by political stance is spreading further. Recently, the Danish pension fund Akademiker Pension issued a statement on its official website, announcing that Tesla has been officially included in the investment blacklist, which means that neither the fund itself nor the external fund managers it entrusts will be able to purchase Tesla shares in the future.
Media reports stated that the fund currently manages more than $20 billion in assets and is selling the remaining 200 Tesla shares it holds. A spokesman for the fund revealed that the peak value of Tesla shares in its portfolio was as high as 300 million Danish kroner (about $45 million).
Talking about the reasons for "blacklisting" and "clearing out" Tesla, Holst, CEO of Akademiker Pension, said that there are three main factors: ① Tesla's resistance to labor unions; ② Problems exposed in the corporate governance structure, the board of directors' independence faces major challenges; ③ Musk himself is "deeply involved in American and European politics" and "spreading false information."
The latter brings "considerable risk" to returns, Holst said. Holst added:
"In short, we believe Musk is destroying (Tesla's) brand and value."
Political stance and controversial behavior cause market concerns
In fact, concerns about Musk and Tesla are not unique to Danish pension funds. As Tesla's stock price continues to plummet, market sentiment continues to decline. Even Tesla's "die-hard fans" are beginning to waver, and retail traders, the main force supporting the stock price, are showing signs of withdrawing from the market.
Analysts believe that one of the reasons for Tesla's stock price plunge is its declining sales. In Germany, Tesla car registrations plummeted 70% in the first two months due to Musk's public support for far-right political parties. In the United States, Tesla's largest market, consumer preference for Tesla has also declined significantly. Market survey data shows that since Musk acquired Twitter (now
In addition to factors such as vehicle model replacement, the backlash effect caused by Musk's personal political stance is emerging globally. His praise of far-right parties, cooperation with Trump and controversial comments on social media have seriously damaged Tesla's brand image and triggered boycotts and protests. Tesla stores and cars have even been targeted in vandalism and arson attacks.
At the same time, investors have begun to worry about whether Musk is spreading too much energy. After serving as head of the U.S. Department of Government Effectiveness (DOGE), Musk appeared to devote more energy to government affairs, which raised concerns about his ability to manage other companies such as Tesla. Musk himself admitted in interviews that managing multiple companies has been "very difficult" for him.
Due to the combination of multiple factors, Wall Street analysts have also lowered Tesla's target price and expressed concerns about its future prospects. Among them, JP Morgan lowered Tesla's target price from US$135 to US$120; Guggenheim lowered its target price from US$175 to US$170; UBS and other institutions have significantly lowered Tesla's delivery expectations.
As of press time, Tesla's stock price was trading at US$249.98, which was almost "cut in half" from its high of US$488 in December last year.
Tesla, once a "star stock", is now facing unprecedented challenges. The Danish pension fund’s “blacklisting” incident undoubtedly added another piece of firewood to Tesla’s predicament.