A wave of protests against Musk is spreading across the United States, especially targeting electric car company Tesla, causing its stock to plummet, causing Tesla’s market value to lose more than $358 billion in February alone.

Anti-Elon Musk protesters sit in Tesla stores, disrupting business operations. Photo: QQnews.

Anti-Elon Musk, Tesla boycott wave spreads across the US
On March 1, protesters gathered outside Tesla stores across the US to protest the carmaker’s billionaire boss Elon Musk and his move to cut government spending on behalf of President Trump.

Critics of Trump and Musk hope to discourage people from buying Tesla cars and boycott them. In recent weeks, liberal groups have staged anti-Tesla protests in hopes of stoking opposition to Musk’s Department of Government Efficiency (DOGE) and energizing Democrats still disheartened by Trump’s landslide victory in November.

Musk’s opponents argue that his actions run counter to Congress’s power to control the federal budget and that he has many ways to enrich himself. Musk owns the aerospace company SpaceX, the car company Tesla, the social media platform X, and several other businesses. Since Musk took over as head of DOGE, there have been concerns that he could use his power for personal gain.

An anti-Tesla protest in New York. Photo: QQnews.
“We can get even with Musk,” said Nathan Phillips, a 58-year-old ecologist from Newton, Massachusetts, who attended the Boston protest on March 1. “We can inflict direct economic damage on Tesla by showing up outside showrooms everywhere, boycotting Tesla, and telling every customer to leave, sell their Tesla stock, and sell their Tesla cars.”

A website called “Tesla Takedown” lists more than 50 protests, with more expected by the end of March across the United States, as well as in Britain, Spain, and Portugal. Some Tesla owners have reported vandalism, with some even spray-painted with anti-Elon Musk slogans.

Many Tesla owners are worried that their cars will be targeted. Some have even quietly removed the Tesla logo or replaced it with the logo of other brands.

Tesla electric cars are smeared with anti-Elon Musk slogans. Photo: QQnews.
According to reports, the anti-Tesla rally held in Boston on March 1 had a festive atmosphere, with a brass band playing music and protesters holding banners and chanting slogans; several signs mocking Musk and DOGE appeared, one reading: “Stop Elon Musk and the evil people around him”.

Tesla stock price drops 27.59% in February
Data shows that Tesla’s stock price has fallen by nearly a third since Trump took office. In February alone, Tesla’s stock has dropped a total of 27.59%, and the company’s market value has “evaporated” about $358.286 billion.

The chart shows Tesla’s stock price falling sharply. Photo: QQnews.
Guggenheim Fund analysts said that Tesla’s stock price has been very weak recently and its sales have been falling in many regions, especially in Europe. Elon Musk’s close relationship with the Donald Trump administration has also exacerbated his controversial image, causing Tesla’s stock price to fall 27% since the beginning of the year.

Although Tesla is about to launch a driver-assistance feature similar to Full Self-Driving (FSD) in China, Guggenheim analysts are still pessimistic about this. He said that there are challenges in pricing FSD in China. Competition in the Chinese market is becoming increasingly fierce. NOA (navigation assistance) features from competitors like BYD and Li Auto are quickly becoming standard, and the price of advanced driver assistance systems (ADAS) features is also falling.

Although the FSD rollout in China could help boost Tesla’s sales and secure the future of its products, with over 2 million Teslas on the road in China, the potential for slower revenue growth is worth noting even with low FSD adoption. However, this is not enough to change the bearish outlook. The analyst rates Tesla shares as sell with a target price of $175, implying a downside of about 40% from current levels.

Elon Musk cited the White House announcement saying 76% of Americans support DOGE…

Photo: QQnews.
Facing voices of doubt, early on the morning of March 3, Elon Musk responded through a tweet on his Twitter account.

He cited the White House information saying “76% of Americans support DOGE” and emphasized that the Trump administration’s policies have achieved achievements, including “streamlining government agencies” and “illegal border crossings have dropped to a 15-year low”.