Anti-Musk wave spreads in the US, Tesla lost 358 billion USD in February

A wave of protests against Musk is spreading across the United States, especially targeting electric car company Tesla, causing its stock to plummet, causing Tesla’s market value to lose more than $358 billion in February alone.

Anti-Elon Musk protesters sit in on Tesla store, disrupting business operations. Photo: QQnews.

Anti-Elon Musk, Tesla boycott wave spreads across America

Protesters gathered outside Tesla stores across the United States on March 1 to protest the automaker’s billionaire boss Elon Musk and his push to cut government spending on behalf of President Trump.

Critics of Trump and Musk hope to discourage people from buying Teslas and boycott them. In recent weeks, liberal groups have organized anti-Tesla protests in hopes of stirring up opposition to Musk’s Department of Government Efficiency (DOGE) and energizing Democrats still disheartened by Trump’s landslide victory in November.

Musk’s critics argue that his actions run counter to Congress’s control of the federal budget and that he has many ways to enrich himself. Musk owns the aerospace company SpaceX, the car company Tesla, the social media platform X, and several other businesses. Since Musk took over as head of DOGE, there have been concerns that he could use his power for personal gain.
An anti-Tesla protest in New York. Photo: QQnews.
“We can get even with Musk,” said Nathan Phillips, a 58-year-old ecologist from Newton, Massachusetts, who attended the Boston protest on March 1. “We can inflict direct economic damage on Tesla by showing up outside showrooms everywhere, boycotting Tesla, and telling every customer to leave, sell their Tesla stock, and sell their Tesla cars.”

A website called “Tesla Takedown” has listed more than 50 protests, with more expected by the end of March across the United States, as well as in the United Kingdom, Spain and Portugal. Some Tesla owners have reported that their cars have been vandalized, with some even spray-painted with anti-Elon Musk slogans.

Many Tesla owners are worried that their cars will become the target of “attacks”. Some people even quietly remove the Tesla logo or replace it with the logo of other brands.
Tesla electric car smeared with anti-Elon Musk slogan. Photo: QQnews.
According to reports, the anti-Tesla protest held in Boston on March 1 had a festive atmosphere, with a brass band playing music and protesters holding banners and chanting slogans; several signs appeared mocking Musk and DOGE, one reading: “Stop Elon Musk and the evil people around him.”

Tesla stock price fell 27.59% in February

Data shows that Tesla’s stock price has fallen by nearly a third since Mr. Trump took office. In February alone, Tesla’s stock has fallen a total of 27.59%, wiping out about $358.286 billion in market value.

The chart shows Tesla’s stock price falling sharply. Photo: QQnews.
Tesla’s stock has been underperforming recently, and sales have been falling in many regions, especially Europe, according to analysts at the Guggenheim Fund. Elon Musk’s close ties to the Trump administration have also added to his controversial image, with Tesla’s stock down 27% since the start of the year.

Although Tesla is about to launch a driver-assist feature similar to Full Self-Driving (FSD) in China, Guggenheim analysts remain bearish on it. They say there are challenges in pricing FSD in China. Competition in the Chinese market is getting fiercer. NOA (navigation assistance) features from competitors like BYD and Li Auto are quickly becoming the norm, and advanced driver assistance system (ADAS) features are also coming down in price.

While the FSD rollout in China could help boost Tesla’s sales and secure the future of its products, with more than 2 million Teslas on the road in China, the potential for slower sales is worth noting even with low FSD adoption. However, this is not enough to change the bearish outlook. The analyst rates Tesla shares as sell with a target price of $175, implying a downside of about 40% from current levels.
Elon Musk cited a White House announcement saying 76% of Americans support DOGE…
Photo: QQnews.

Faced with voices of doubt, early in the morning of March 3, Elon Musk responded through a tweet on his Twitter account.

He cited the White House’s information that “76% of Americans support DOGE” and emphasized that the Trump administration’s policies have achieved achievements, including “streamlining government agencies” and “illegal border crossings have dropped to a 15-year low.”