Tesla backlash after Musk’s endorsement of antisemitic post on X

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There is backlash regarding Elon Musk's endorsement of anti-Semitic rhetoric on his social media platform X (formerly known as Twitter). In response, advertisers such as Apple, Disney, Lionsgate, the European Commission, and others have suspended their business at the social media company. Moreover, Tesla (TSLA.us) shareholders are questioning his leadership of that company.

Musk endorsed the X post that claimed that Jews "have been pushing the exact kind of dialectical hatred against whites that they claim to want people to stop using against them." Musk responded with "You have said the actual truth."

The White House and the Anti-Defamation League, and others, condemned Musk's comment. Kristin Hull, the the founder Nia Impact Capital, also expressed profound dismay, conveying her strong disapproval of Musk's tweets. She has called on Tesla's board to punish Musk.

According to Barron's, Gary Black, one of the founders of the Future Fund Active exchange traded fund, which holds a stake in Tesla, disclosed to Barron's that Jewish clients have expressed their strong displeasure to him regarding Musk's tweet.

Ross Gerber, the CEO of Gerber Kawasaki Wealth and Investment Management,asserts that Musk's tweets have played a role in the necessity for Tesla to implement substantial price reductions to sustain sales growth throughout 2023.

Russell Shor

Senior Market Specialist

Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.

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