Why did Elon Musk hearth Don Lemon and why is Tesla inventory falling?

The Don Lemon-Elon Musk partnership has formally soured. However that’s not all. It’s been every week of bitter lemons for Elon Musk, particularly because it regards his electrical car maker Tesla.

Lemon, a former CNN anchor, introduced that Musk abruptly texted him “contract terminated,” hours after the duo filmed an interview meant to be the debut of Lemon’s new discuss present that will completely air on Musk’s social platform X

The transfer marks one other blow to Musk, whose Tesla appears to face new declines in its inventory value day by day, dropping over $25 billion in worth the day of the Lemon interview, which prolonged previous $30 billion in post-market buying and selling. Since March 1, Tesla’s market cap has shed over $100 billion, and it’s not clear the place the underside is. 

In January, Tesla stated its progress might be “notably decrease” this yr, and currently, analysts and buyers have simply piled on extra dangerous evaluations. A wave of analysts are out of the blue warning of dangers to the Tesla gross sales outlook as the corporate’s technique to slash costs is carrying out its use. Evercore, as an illustration, wrote in a observe that the corporate is probably going years away from totally integrating a lower-cost mannequin, calling Tesla a “2027 story.” 

In the meantime, Wells Fargo analyst Colin Langan wrote to shoppers Wednesday that the electrical car maker’s progress in core markets has moderated, downgrading the inventory to the equal of a promote score. He expects Tesla’s gross sales to be flat this yr and fall in 2025. To stay the knife in, he wrote that Tesla is a “progress firm with no progress.”

The evening earlier than Lemon and Musk’s interview, Lemon had put out a teaser. “Elon Musk such as you’ve by no means seen him earlier than,” he wrote on X. “You gained’t wish to miss.” 

However hours after the interview, each males’s tunes had modified. Musk introduced that “after cautious consideration” he “determined to not enter right into a business partnership” with Lemon’s present. Lemon’s response to Musk was terse: “You canceled my contract after our interview. I don’t suppose you imagine in free speech.” 

Lemon’s questions lined lots of floor. He wished to know if hate speech is an issue on X and whether or not Musk himself has any accountability in it, citing Musk’s claims that white People are being purposefully changed by immigrants in a plot to shift political energy away from white individuals, referred to as the Nice Substitute Concept

The dialog lined every little thing from “SpaceX to the presidential election,” Lemon wrote in a assertion. He additionally requested about Musk’s use of the drug ketamine because it pertains to international safety clearance. On his drug use, Musk stated there have been no considerations as a result of he has a prescription for it. 

After his firing, Lemon stated in a put up that Musk’s “dedication to a worldwide city sq. the place all questions might be requested and all concepts might be shared appears to not embrace questions of him from individuals like me.” 

Musk has since claimed that Lemon was basically a puppet for former CNN chief Jeff Zucker. “His strategy was mainly simply ‘CNN, however on social media,” Musk wrote. “As an alternative of it being the actual Don Lemon, it was simply Jeff Zucker speaking by means of Don, so lacked authenticity.” 

The discuss present deal was first introduced in January as a part of X’s plans to characteristic extra video content material and collect extra big-name hosts on the platform. It was set to air three, 30-minute episodes every week, the Guardian reported.

Lemon’s present will nonetheless debut with the interview and can air on March 18 on YouTube, podcast streaming companies and X. However the unique partnership, as soon as candy, is now bitter—and even bitter. 

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