Tesla (NASDAQ: TSLA) continues to build sustained upward momentum after Minnesota Governor Tim Walz mocked the company’s stock decline during a March 19, 2025 speech.
At the time, Walz playful jabbed at Tesla’s falling stock price, suggesting he enjoyed watching it drop as the equity faced the threat of breaching the $220 support.
“Some of you know this. On the iPhone, they’ve got that little stock app. I added Tesla to it to give me a little boost during the day — $225 and dropping. <…> If you own one, we’re not blaming you. You can take dental floss and pull the Tesla thing off,” Walz said.
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However, the tables have turned, as Tesla’s value has steadily climbed in the days since.
During Walz’s remarks, TSLA stock was trading at $225. By press time, the electric vehicle (EV) manufacturer’s equity had surged to $272, reflecting a 20.8% increase.
Interestingly, the governor’s comments drew criticism, given that in mid-2024, it was revealed that the Minnesota State Board of Investment, representing his constituents, held 1.6 million shares of Tesla stock in the state’s pension fund.
Later, at an event in New York, Walz addressed his remarks, claiming they were a joke in the context of Elon Musk’s involvement with President Donald Trump’s Department of Government Efficiency (DOGE). He acknowledged the need to tread carefully with such statements.
Why Tesla stock is rising
Tesla is now attempting to reclaim key resistance levels, potentially at the $300 mark, after its initial drop, which was triggered by several factors, primarily Musk’s political involvement, which some critics argue has made him a polarizing figure.
Additionally, investor sentiment appeared to wane as Tesla’s sales struggled in key markets like Europe while competition from Chinese manufacturers intensified.
As reported by Finbold, part of TSLA’s current momentum has been fueled by news that Tesla plans to roll out Full Self-Driving (FSD) in China, pending regulatory approval.
Tesla confirmed that it will launch its smart driving-assistance feature after securing approval following complaints about a temporarily paused free trial.
If approved, FSD could provide Tesla with a competitive edge over local EV makers still grappling with consumer trust, potentially boosting sales in the region.
At the same time, Musk’s call for employees to hold onto their stock has reinforced Tesla’s bullish momentum.
Featured image via Shutterstock
