New data from analyst firm CivicScience shows that Tesla $TSLA-8.5%'s popularity among Democrats has dropped to 16% as of July 16, compared to 39% in January. Among Republicans, the data shows that popularity has dropped to 23% from 36% in the same time period.
Tesla
TSLAOpen $232.60
Day range $210.56 - $233.60
52 week range $138.80 - $278.98
CivicScience CEO John Dick said that "the data consistently shows that Democrats, more closely than Republicans, associate Elon Musk and his actions with the brand."
He further states:
"If the $7,500 credit is repealed, Tesla will have to raise prices. And if it has to raise prices, it will certainly sell fewer cars."
It's a higher risk bet. The company will probably succeed, but I don't think it will succeed to the extent expected. Well, we got the results today, so we'll see.