Tesla Inc.’s stock is in a freefall. Its sales are plunging around the world. Even its most avid Wall Street bulls are turning cautious. But one group is buying the electric-vehicle maker’s shares like never before: CEO Elon Musk ’s fans.

Tesla Inc. (TSLA) shares rose on Friday morning after CEO Elon Musk urged employees to “hang on” to their stock in an all-hands meeting broadcast on social media platform X (formerly Twitter). Tesla shares have dropped by over 35% this year after initial investor optimism about a favorable regulatory environment under President Trump’s administration faded.

Falling stock prices, plummeting car sales, protests, vandalism – it's all just another day in the year 2025 for Tesla now. Backlash against the company has become the norm, Musk's relationship with the Trump administration and his increasing involvement with right wing politics has made him very divisive.

InsideEV reported that Tesla is facing allegations of accounting discrepancies. According to the report, Tesla spent $6.3 billion on capital expenditures during the second half of 2024, but its balance sheet showed only a $4.