Summary
Sheryl Crow announced on Instagram that she is selling her Tesla and donating the proceeds to NPR, citing concerns over Elon Musk’s leadership.
NPR is under political scrutiny, with Republican lawmakers and FCC Chairman Brendan Carr launching investigations.
Crow’s move is a protest against Musk’s influence in government and Trump’s efforts to defund public media.
That people even have to try and justify ownership of existing Tesla shows that situation has gotten to a state where potential buyers are less likely to get them.
Stocks are based on future sales projections and a brand going toxic is not a great situation. A car suddenly turning from a regular vehicle to one that is now turning into political affiliation is not great for the average person who “wants to stay out of politics.”
I’m not sure Tesla stock follows normal trends. It’s price doesn’t seem to be that influenced on sales performance