Trump commerce secretary pumps Tesla stock, urging Americans to buy Elon Musk’s carmaker: ‘It will never be this cheap again’

Quick Summary:

In a potential violation of government ethics, Howard Lutnick fanned fears of missing out on a Tesla rally by telling voters to buy Tesla stock because it's only going to go up in price.

While Musk has clashed with cabinet secretaries like Marco Rubio and Sean Duffy over his DOGE cuts, he and Lutnick have also become something of a team.

In fact, Tesla is by far the most expensive stock in the Magnificent Seven relative to expectations, trading at 60 times consensus earnings estimates for 2026 versus roughly half that for its six other peers.

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Article Details

Author / Journalist: Christiaan Hetzner

Category: EconomyBusiness

Markets: United States

Topics: Commerce Department Autos Tesla Donald Trump Fortune 500 Electric vehicles Fortune 500 Companies Howard Lutnick Ethics Magnificent 7 Elon Musk

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-20 @ 12:54:38 (3 days ago)

News Timezone: GMT +8:00

News Source URL: fortune.com

Language: English

Article Length: 665 words

Reading Time: 4 minutes read

Sentences: 4 lines

Sentence Length: 167 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Fortune

News ID: 27191624

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Official Website: fortune.com

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