As Tesla stock rebounds, protesters ramp up efforts to hurt Elon Musk

CNN

16-03-2025

Hundreds of demonstrators gathered nationwide outside Tesla showrooms Saturday amid heightened criticism against CEO Elon Musk's federal cost-cutting role in the so-called Department of Government Efficiency and after Attorney General Pam Bondi vowed to crack down on vandalism against Tesla.
The demonstrations are part of the 'Tesla Takedown' movement, a boycott that began on February 15 against Musk's electric vehicle company. The campaign was started by Hollywood actor and filmmaker Alex Winter, and Joan Donovan, an assistant professor of Journalism and Emerging Media Studies at Boston University. DOGE has slashed thousands of government jobs, and this week it proposed a dramatic downsizing of the IRS that would result in a nearly 20% reduction of its workforce by May 15.
More than 80 demonstrations are slated for Saturday and more than 70 are planned through the end of April, according to the Tesla Takedown website. The movement wants people to 'sell your Teslas, dump your stock, join the picket lines.'
Tesla did not respond to CNN's request for comment.
In the Boston suburb of Dedham, about 100 demonstrators gathered outside a Tesla showroom. The Philadelphia suburb of West Chester had a similar turnout. Baltimore saw one of the biggest turnouts with at least 300 demonstrators
In Washington, DC, more than 50 demonstrators had gathered by noon outside a Tesla showroom, holding signs and dancing to songs by Beyoncé and Daft Punk as passing drivers honked their horns in support. The number of demonstrators on the gloomy and chilly day was a sharp uptick from the turnout about two weeks ago at the same Georgetown location.
Sara Steffens, a former journalist and policy advocate, said she paired up with Melissa Knutson, who is self-employed, to turn the demonstration into a dance party. Knutson said she wanted to replicate the musical atmosphere she saw at a demonstration in Maryland.
'We need to have joy because this is a long haul, and we need to grow our movement against this authoritarianism,' Knutson told CNN.
Police departments across the United States are investigating a wave of attacks on Tesla showrooms, charging stations and vehicles.
On March 3, seven charging stations in a mall outside of Boston were set on fire. Five days later in New York City, six protesters were arrested for occupying a showroom. In Colorado, a woman was accused of throwing Molotov cocktails and vandalizing vehicles and a showroom.
Bondi said Friday she had opened an investigation into vandalism against Tesla vehicles and showrooms.
'If you're going to touch a Tesla, go to a dealership, do anything, you better watch out because we're coming after you. And if you're funding this, we're coming after you. We're going to find out who you are,' Bondi said on Fox Business.
And on Tuesday, President Donald Trump and Musk made an appearance on the South Lawn of the White House, where five Tesla vehicles were showcased. Trump called the vehicles 'beautiful' and said he hoped the event would boost Tesla sales.
'It's like the Super Bowl, where it's just mass exposure,' Jessica Caldwell, head of insights at automotive site Edmunds, told CNN about the media scene on the South Lawn.
Caldwell thinks the attention Tesla received from Trump helps the automaker in the short term but is unsure if the efforts will 'convert most people' who otherwise may not be interested in buying a Tesla.
Musk, the world's richest man, owns about 411 million shares of Tesla, or about 13%, and has lost most of the gains the company saw in December. Shares of Tesla (TSLA), which closed at $249.98 on Friday, have shed about 48% of their value since peaking at $479.86 on December 17 and are down about 30% since the start of the demonstrations last month.
'We have to think about not in just what's the stock price from one day to the next, but keeping pressure on over the long term,' said Steffens at the demonstration in Washington, DC.
Knutson said Tesla Takedown is not against Tesla drivers or the cars themselves.
'We are specifically targeting Elon Musk, trying to bring his value down and to extract as much pain from him as we can,' she said.
Meanwhile, more than 800 anti-Musk bumper stickers — most of which are intended to be placed on Tesla vehicles — have been sold on Amazon in the past month.
Negative opinions of Musk will damage Tesla's reputation, according to Caldwell.
She noted the negative attention could also get consumers to do more research and consider other EV options aside from Tesla. Caldwell said Tesla's market share was weakened before these protests, as a slew of automakers have introduced new EVs to the market.
'I imagine some (Tesla investors) are hoping that this is a short-term blip and things will eventually get a bit smoother,' she said. 'It's hard to say at this point.'
And it's too soon to tell if Tesla owners are willing to sell their vehicles because of the criticism of Musk.
'Not everybody can afford to make those decisions,' she said.
CNN's Chris Isidore contributed to this report.