Commerce Secretary Under Fire for Tesla Stock Promotion

Commerce Secretary Howard Lutnick has faced backlash for endorsing Tesla stocks during a Fox News appearance, urging viewers to buy shares of the electric vehicle company despite its significant stock decline. He claimed that Tesla's current stock price is an unprecedented opportunity, stating it would 'never be this cheap again.' This endorsement has raised ethical concerns, as critics argue that it violates guidelines prohibiting federal officials from using their position for personal gain, particularly given Lutnick's ties to the investment firm Cantor Fitzgerald, which has heavily invested in Tesla. The comments come amid a broader context of political support for Musk from the Trump administration, including a recent photo opportunity with Tesla vehicles at the White House. Meanwhile, analysts from Cantor Fitzgerald have also upgraded their rating on Tesla, describing the recent stock decline as an attractive entry point for investors. The situation has drawn attention from both supporters and opponents of Musk, further complicating the narrative surrounding Tesla's financial health.