Politics
Tim Walz’s Latest Attack Backfires Spectacularly
Failed Democrat Vice President Tim Walz might want to rethink his stock market predictions after his latest swipe at Tesla turned into one of the biggest financial backfires of the year.
Just weeks after Walz openly mocked the electric vehicle company’s stock performance, Tesla shares surged over 11% on Monday—its largest single-day gain of the year. The rally pushed Tesla’s stock up 25% from its recent lows, a sharp rebound that made Walz’s comments look even more out of touch.
During a speech in Wisconsin, Walz attempted to score political points by ridiculing Tesla’s stock decline, referencing a personal habit of tracking it on his phone.
“I don’t know, some of you know this, on the iPhone, they’ve got that little stock app. I added Tesla to it to give me a little boost during the day. 225 and dropping,” Walz told the crowd, appearing to relish the downturn. “And if you own one, we’re not blaming you. You can take dental floss and pull the Tesla thing off, you know, and take it out.”
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Walz’s remarks were particularly pointed given Musk’s involvement with the Trump administration’s Department of Government Efficiency (DOGE). But in a twist of irony, just days after Walz’s mockery, Tesla shares rebounded sharply, making his comments look embarrassingly premature.
Tesla’s Monday surge, which saw the stock jump nearly 12% to close at $278.39, reinforced the company’s resilience in the market. The rally pushed Tesla’s after-hours price even higher, suggesting that Walz’s mockery didn’t have the intended effect.
This isn’t the first time critics have underestimated Musk or Tesla’s ability to rebound. While the stock had struggled in recent weeks—falling over 34% in a month—its ability to bounce back is a reminder that betting against Musk has rarely been a winning strategy.
On Saturday, Minnesota Governor Walz addressed comments he made about Tesla’s declining stock value, clarifying that his remarks were intended as humor. Speaking at a town hall in Rochester, Minnesota, Walz stated, “I have to be careful about being a smarta**. I was making a joke. These people have no sense of humor. They are the most literal people.”
“They’re all butthurt about the Tesla thing, but they don’t care about the disrespect they have shown to employees at the Minneapolis VA who care for our veterans, and they fire them. They don’t care,” Walz said.
The comments drew criticism, notably from “Shark Tank” investor Kevin O’Leary. O’Leary explained that Minnesota’s State Board of Investments holds approximately 1.6 million Tesla shares in its retirement fund. He questioned Walz’s awareness of the state’s investments, stating to CNN, “That poor guy didn’t check his portfolio and his own pension plan for his state.”
This coincides with a series of vandalism attacks targeting Tesla dealerships and vehicles across multiple states. The FBI has reported incidents of vandalism, gunfire, and arson at Tesla properties in at least nine states since January, with some scenes displaying graffiti expressing grievances. These attacks are believed to be in response to Musk’s leadership at DOGE.
