Commerce Secretary Howard Lutnick drew sharp criticism Wednesday after urging Fox News viewers to buy shares in Tesla, the electric vehicle company owned by Elon Musk.
Talking to Fox’s Jesse Watters, Lutnick impassionately pitched: “I think if you want to learn something on this show tonight, buy Tesla. It’s unbelievable that this guy’s stock is this cheap. It’ll never be this cheap again.”
Lutnick later hyped the technological advancements being made by Musk, the world’s richest person, and his company.
“When people understand the things he’s building, the robots he’s building, the technology he’s building, people are going to be dreaming of today and Jesse Watters and thinking, ‘Gosh, I should have bought Elon Musk’s stock,’” said Lutnick. “I mean, who wouldn’t invest in Elon Musk? You gotta be kidding me.”
The ringing endorsement came amid a plummet in stock value for Tesla as Musk faces mounting backlash over his support for and role in President Donald Trump’s efforts to slash public spending.
Reports of violent attacks on Teslas have surged.
Trump himself recently held what critics called a Tesla promotional event outside the White House, fueling more controversy.
Lutnick’s boosting of Musk and his company sparked outrage online, with many accusing him of potentially violating ethics rules and the Hatch Act, which prohibits federal officials from using their positions for political or financial gain.
Go Ad-Free — And Protect The Free Press
Already contributed? Log in to hide these messages.