Commerce Secretary Faces Backlash for Tesla Stock Endorsement

Howard Lutnick's televised recommendation to buy Tesla shares raises ethical concerns as the company's stock continues to decline.

Howard Lutnick, U.S. Commerce Secretary, urged viewers on Fox News to buy Tesla stock, calling Elon Musk the 'best entrepreneur and technologist in America.'
Critics argue that Lutnick's comments may violate federal ethics regulations, which prohibit public officials from endorsing specific companies.
Tesla's stock has fallen over 40% this year, with further declines in premarket trading following Lutnick's remarks.
Lutnick's former firm, Cantor Fitzgerald, recently upgraded Tesla to a 'buy' rating, raising questions about potential conflicts of interest.
The controversy has intensified scrutiny of Musk's financial support for Trump and his role in the administration's cost-cutting measures.