During a Wednesday, March 19, appearance on Fox News, Commerce Secretary Howard Lutnick urged viewers to buy Tesla stock. He promoted the company’s advancements, saying, “It’s unbelievable that this guy’s stock is this cheap.”
Lutnick’s comments came amid a significant decline in Tesla’s stock value and growing backlash against Elon Musk’s involvement with President Donald Trump’s administration.
Critics accused Lutnick of violating ethics rules, including the Hatch Act, by promoting a specific stock connected to a political donor.
Trump expressed hope for a rise in Tesla’s stock price but did not explicitly urge the public to purchase shares.
