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Stock price isn't based on what people are buying, it's based on what people think the value of the company is.
If the president endorses a product, the market as a whole values the company that makes said product more.
Case in point, Tesla stock is up over $8 since Trump's announcement.
It may not be directly related to people buying as in someone buying a Tesla won't ratchet up the share price that day, but sales absolutely do affect a company's value once the quarterly reports come out. What people speculate it's worth doesn't really matter if they're not making any money currently and not expected to in the foreseeable future.
I don't think Trumps endorsement is really worth anything to Tesla unless he plans on sinking a ton of taxpayer dollars into them. The price is now up $11 but can just as easily drop back down as the only people being swayed by the president's statements are his sycophants.