Trump Picks Tesla: Strong Support Amid Political Protests

U.S. President Donald Trump expressed support for Elon Musk by announcing his intention to buy a Tesla. Amid protests and a stock slump due to Musk's political activities, Tesla shares rebounded. Demonstrations took place in New York and Portland, while Musk's role in government efficiency drew both support and opposition.

In a move to show allegiance to Elon Musk and the embattled Tesla company, U.S. President Donald Trump announced plans to purchase a new Tesla. This comes as Tesla faces both protests and a notable dip in stock value amidst Musk's political involvement.

On Tuesday, Tesla shares rebounded by 5% during premarket trading, recovering from their sharp fall—the largest in over four years. Demonstrations against Musk, linked to his role in federal workforce cuts, erupted in cities like Portland and New York, causing further controversy.

Despite the backlash, Trump publicly praised Musk on his Truth Social platform, citing Musk's dedication to national interests. The political discussion involving electric vehicles and Tesla continues to impact its market performance, as investors express concerns over Musk's focus.

(With inputs from agencies.)