On Monday, many users noticed that X, formerly known as Twitter, was experiencing significant issues. The platform was down for much of the morning before returning to normal in the afternoon. This disruption was later attributed to a cyberattack.
The hacker group known as Dark Storm, which has ties to pro-Hamas activities, claimed responsibility for several directed denial-of-service (DDoS) attacks targeting X. These attacks typically involve overwhelming a website’s servers with a flood of traffic, rendering it inaccessible to users. While Dark Storm took credit for the incident, Elon Musk expressed uncertainty about the exact cause of the outage.
The problems on X coincided with a turbulent day on the New York Stock Exchange. Tesla, another company owned by Musk, saw its stock plummet significantly, dropping nearly half of its value in just three months. This decline has raised questions about whether Tesla remains overpriced, especially as its market capitalization has fallen by 45% since reaching an all-time high of $1.5 trillion in December.
Despite the stock drop, many investors still view Tesla as more than just an automaker. They believe it is an innovator in artificial intelligence and robotics. This perspective suggests that the company could eventually shift its focus to developing domestic robots, which could revolutionize everyday life.
The decline in Tesla’s stock value was exacerbated by broader market concerns, including fears of a recession and rising tariffs. Following a downgrade from UBS regarding Tesla’s delivery forecasts, shares fell over 15%, wiping out more than $125 billion in market value.
In addition to financial troubles, Musk’s businesses are facing public backlash. Protests against him erupted across the U.S. and in other countries, with demonstrators targeting Tesla showrooms. Activists expressed their anger over Musk’s policies and his approach to government spending. Some protests turned violent, resulting in arrests and vandalism against Tesla properties.
Musk’s challenges are not limited to X and Tesla. His satellite internet service, Starlink, has also come under scrutiny, particularly regarding its role in Ukraine. Reports have suggested that U.S. officials threatened to cut off Starlink access in negotiations over Ukraine’s mineral resources, although Musk denied these claims.
As Musk continues to face criticism and scrutiny, he remains a polarizing figure. Supporters see him as a disruptor challenging established norms, while detractors view him as a controversial figure whose actions could have far-reaching implications. With the ongoing volatility in both his companies and the broader market, it seems that the coming weeks will be anything but ordinary for Musk and his ventures.
