Joe Scarborough Mocks Tesla as ‘Overvalued Meme Stock’: ‘Genius of Elon Musk Has Been Shattered’

Morning Joe host Joe Scarborough mocked Tesla as a “meme stock” that has always been “overvalued” because investors were hedging on the “genius of Elon Musk” – which, following his actions since joining the Trump administration, has been “shattered.”

The collapse in Tesla’s sales, plunging 49 percent in China and 76 percent in Germany, left the company’s stock price at its lowest since Trump’s victory. Tesla suffered a nearly $100 billion in market value, while Musk’s own fortune has taken a staggering $105 billion hit.

At close of trading Monday, the stock value plummeted by almost 15 percent.

The market move comes as Musk faces backlash over his government role at the Department of Government Efficiency (DOGE), initiating mass federal layoffs and government-wide cuts.

His political gestures — including one at Trump’s inauguration that critics likened to a Nazi salute—have sparked further fury.

On Tuesday, one day after the market-wide hit that saw Tesla’s price drop, Scarborough laid out his scathing analysis of the situation and blamed the company’s woes on Musk’s political involvement.

Big difference between Tesla and Nvidia. I mean, Tesla has been overvalued, analysts believe, for years. It’s sort of a meme stock. People are investing in sort of the genius of Elon Musk. That’s obviously been shattered over the past couple of months, especially in Europe.

Nvidia they are making chips that are going to fuel the future revolution. And just because Wall Street is going one way or another because of fears over tariffs, doesn’t change the underlying fundamentals of that.

Watch above via MSNBC.