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The Big Story: Musk’s Drama is Tesla’s Karma

Like many others, my feelings about Elon Musk are complex. I don’t fall into the camp that he is an absolute fraud and idiot who is cosplaying as the entrepreneur of a generation. I also don’t get the idol worship and think it’s completely fair to criticize his shortcomings, which are oh-so-many.

The Internet has made it incredibly difficult to hold multiple viewpoints at once. The key to engagement is to pick a fight and take an all-or-nothing stance. That’s why we’re so polarized and why being extreme online is extremely profitable. The free markets love a messy fight! $$$

The conservative-leaning Wall Street Journal just published a piece that summarizes the financial burden that Musk’s political entanglements have brought to Tesla $TSLA ( ▲ 9.8% ) as of late. Here are some of the data points they referenced:

• Tesla stock is down 35% in 2025, erasing most post-election gains. U.S. sales fell 7% in 2024 and another 2% in early 2025, despite EV sales rising 25% industrywide.

• Big losses in key markets: Sales plunged 76% in Germany and 26% in France in February 2025. U.S. sales dropped sharply in New York, LA, SF, and Dallas.

• Tesla’s mass-market appeal is tanking: In 2022, 22% of shoppers would consider a Tesla (on par with BMW/Mercedes). By 2023, that fell to 7%—now in Lincoln/Dodge territory.

• Brand perception keeps sliding: By December 2024, 63% of consumers said they wouldn’t consider a Tesla—up 10 points from spring 2024.

• Democrats are ditching Tesla: Consideration dropped from 23% (10M buyers) in 2023 to 13% (under 6M) in 2025—a major hit to Tesla’s core customer base.

• …But Republicans stepping in: GOP Tesla interest grew from 15% to 26%—now about 9M potential buyers, but EV skepticism makes conversions uncertain. Statistically, Republicans are less likely to spring for an EV than Democrats.

Here are some of my observations on what’s happening:

Elon’s (probably) making a long-term bet. It’s well documented that the person Elon has become publicly is harming Tesla financially (see above). He went from being the poster boy of EVs to kicking it at the White House in divorced Dad outfits and weighing in on tangential social issues. But he is also someone who thinks long term: Tesla isn’t going to be a “car” company forever -- they’re already planting flags in robotics and AI -- and at the end of the day, it’s probably more lucrative (for him) in the long-term to sidle up next to a sitting president.

That leaves Tesla investors in a weird spot. The thing about the Tesla investor community is that it, too, is full of gray areas. Some retail investors worship Elon and would be bullish regardless of anything he says or does outside of the normal parameters of his business. But if public sentiment turns (as it is), and this starts harming the financials, it quickly boils down to basic math. Are you confident this company is going to continue to grow? Some TSLA investors are worried.

Still, if you’ve been in the stock for a while, you’re doing prett-ay, prett-ay good.

As more ‘everyday people’ invest, the CEO brand becomes more important. Elon Musk is proof that this can be a double-edged sword. People like you until they don’t, and you’re only as good as the last non-idiotic thing you post on X. Controversy drives clicks, and clicks drive trades, but this is a volatile game to play.

Let’s say it together nice and slow: Making you smart in one area does not make you an expert in all areas! Whether it’s Musk, VCs weighing in on geopolitical issues, etc., we need to get a little more comfortable with the nuances of being a human. You can be an absolute genius in one realm, and also be a complete moron in others. I say this as someone with a flourishing career who also walks into doors on a biweekly basis.

We gotta be able to praise people’s unique and undeniable talents in certain areas while not taking everything they say and do as dogma. So, to that end, when AOC calls Elon a dumbass -- well, that’s not entirely true -- but at the same time, this guy isn’t exactly batting 1,000 in every aspect of his life now, is he? In fact, a huge part of his “brand” is saying and doing things that are fall squarely in what I like to call Dipshit Territory™.

But enough from me, what do you all think?!

Daily Rip Live Recap: Too Late to Hedge, MongoDB Misses, and the White House Crypto Summit is Missing Something

Every weekday, Shay Boloor and I run down the biggest market news and events LIVE on Stocktwits’ morning show, The Daily Rip Live. Here’s what we recently covered:

• Navigating Market Whiplash: With Trump & Co. constantly switching plans, how should investors play this? My co-host Shay joked about copying Eric Trump—and also noted his extremely untrusting chin—but seriously, he saw signals weeks ago and moved early. Shay shares what exactly he picked up with our viewers.

• MongoDB Misses: $MDB ( ▲ 0.17% ) disappointed on earnings, as Shay calls out their habit of "sandbagging" guidance—though he remains bullish on their Atlas product. I hadn’t heard “sandbagging” in the context of investing, so Shay explains he means that they are too conservative with their expectation-setting and that’s frustrating investors.

• Crypto Summit at the White House: Robinhood’s $HOOD ( ▲ 2.7% ) Vlad Tenev, Coinbase’s $COIN ( ▲ 2.83% ) Brian Armstrong, and Michael Saylor $MSTR ( ▲ 5.24% ) are in—women, not so much. I reviewed the list and it’s a total sausage festival. On Thursday night, Trump proclaimed that Bitcoin would be central to the U.S. strategic reserve, but $BTC ( ▲ 1.95% ) actually fell on the news.

Hear Shay and I yap about the markets every weekday at 9 a.m. ET on X (@stocktwits), YouTube, LinkedIn, or in your Stocktwits app.

Now Here’s a Chart

The percentage of borrowers at least two months late on their car payments has reached an all-time high. Gulp.

Reading List

• Trump puts new limits on Elon Musk's authority amid backlash to DOGE cuts (CNBC)

• February jobs report: US labor market adds 151,000 jobs, unemployment rate ticks up to 4.1% (Yahoo! Finance)

• U.S. Trade Deficit Grew 34% in January (WSJ)

• Broadcom Stock Jumps After Chip Maker Beats Earnings. The AI Trade Isn’t Dead. (Barron’s) 

• Buy now, pay later giant Klarna is finally ready to file for IPO (Sherwood News)

• Alex Cooper's Unwell Hydration Named Official Partner of NWSL (NWSL)

🎧 Now playing: “Caravan” - The Band with Van Morrison, live from The Last Waltz

Tuesday Thursday Saturday is written by Katie Perry, owner of Ursa Major Media, which provides fractional marketing services and strategy in software, tech, consumer products, professional services, and other industries. She is also the co-host of Stocktwits’ Daily Rip Live show.

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Disclaimer: The contents here reflect recaps and summaries of pre-reported or published data, news, and trends. I have cited sources and context for the information provided to the best of my ability. The purpose of the newsletter is to inform and educate on larger trends shaping business and culture — this is NOT investment advice. As an investor, you should always do your own research before making any decisions about your money or your portfolio.