Overview

• Commerce Secretary Howard Lutnick encouraged Fox News viewers to buy Tesla stock, calling it 'unbelievably cheap,' during a March 19 appearance.
• Ethics experts argue Lutnick's comments may violate federal rules, including the Hatch Act, which prohibits government officials from endorsing private enterprises.
• Rep. Gerry Connolly, a Democratic lawmaker, has formally requested an investigation into Lutnick's remarks, though the Republican-controlled Congress is unlikely to act on it.
• The White House defended Lutnick, claiming he was supporting an American-made company, but critics see the comments as part of a broader trend of the administration promoting Tesla and Elon Musk.
• Tesla's stock has dropped nearly 42% this year due to boycotts and protests, raising questions about the effectiveness and appropriateness of the administration's public endorsements.