Tesla gets resolute support from Ron Baron
Yesterday at 10:15 AM
Tesla (NASDAQ: TSLA) received resolute support from billionaire investor Ron Baron, who supports Elon Musk despite recent backlash for his political activities.
Tesla stock is down 50% compared to its all-time high in December 2024. However, Ron Baron, the chairman and CEO of Baron Capital, doesn’t seem too worried about Tesla or Elon Musk.
“I think people are feeling unsettled right now with all the things that are happening so quickly. I think they’re intentional…And I think all the things they [referring to President Trump and Musk] say that make the market go up or down, you shouldn’t think those are by miscommunication. They’re all intentional,” Baron said.
After President Trump won the election, TSLA share prices skyrocketed. Longtime Tesla analysts adjusted their price targets and predicted President Trump would be a game-changer for the company over the next four years.
However, Elon Musk’s political activities and close ties to President Trump have angered many people across the globe. Tesla is taking the brunt of it all. People are attacking Tesla stores and Supercharger stalls, vandalizing Tesla vehicles, and holding protests against Elon Musk and the company.
Many speculate that the anger towards Elon Musk and, by extension, Tesla is now affecting business. However, there is no definitive proof that it ties people’s ire with Musk to Tesla’s stock dip.
Tesla’s dip is likely related to the company’s Model Y Juniper transition. After all, the electric vehicle maker is retooling all its Model Y factories to produce Juniper. Ron Baron also believes the automotive industry is at an inflection point right now as it prepares for autonomous vehicles, like Tesla’s robotaxi fleet.
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