Shares of Tesla ( TSLA ) plummeted yesterday. Now President Trump says he’s buying one.

“I’m going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk, a truly great American,” Trump wrote in an overnight message on his Truth Social platform.

The message followed a bruising Monday session in which the EV maker’s stock dropped about 15% amid a broad market selloff . A range of issues—including a shift away from more highly valued, speculative shares, along with worries about the health of Tesla’s auto business, and the effect CEO Musk’s close ties to Trump may be alienating potential customers—have pulled the stock down more than 40% this year through yesterday’s close, and well off highs seen late last year.

“Elon Musk is ‘putting it on the line’ in order to help our Nation,” Trump wrote, “and he is doing a FANTASTIC JOB!”

Musk in an interview yesterday said he was running his businesses “with great difficulty” alongside his work with Trump’s administration. The stock, he said in a message on his social network X, “will be fine long-term.”

Trump, meanwhile, didn’t specify which Tesla model he might purchase. The company’s North American division earlier this month promoted interest-free financing and other sweeteners, presumably available to non-presidents.

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