The stock of Tesla (TSLA) continued its two-day decline on Thursday as the public dispute between Elon Musk, the company’s CEO, and President Trump intensified
and wih Trump further threatening to cut government contracts and subsidies that are essential to Musk’s companies.
“The simplest way to save billions and billions of dollars in our budget is to cut off Elon’s government contracts and subsidies.
Every time, I was shocked that Biden didn’t. Trump posted the message om truth social
Meanwhile, on Thursday afternoon, as the two traded barbs, Tesla stock dropped to session lows, dropping as much as 15% by 3 p.m. ET.
Earlier in the day, Trump tore into Musk from the Oval Office
after days of the Tesla CEO’s public protests against Trump’s giant tax bill working its way through Congress.
Also Read:
Elon Musk Exits Government Role After Clash With Trump
See The 12 Countries Trump Banned From Entering The U.S
“Stop Flavored Tobacco and Nicotine Products!”-WHO
“I’m very disappointed, because Elon knew the inner workings of this bill better than almost anybody sitting here,
better than you people,” Trump said to reporters in the Oval Office on Thursday.
Tesla Stocks Takes a Dip With Trump’s Threats!
“All of a sudden, he had a problem, and he only developed the problem when he found out that we’re going to have to cut the EV mandate.”
“Elon and I had a great relationship. I don’t know if we will anymore. I was surprised,” Trump added.
Musk posted on X, the social media platform he owns, in apparent response to Trump’s comments, “Whatever.”
He continued aiming at the president and the bill in a subsequent barrage of posts over several hours.
Musk’s ties to the Trump administration had been seen as a boon for not just Tesla Stocks but his broader business interests,
given SpaceX’s close work with NASA and regulatory levers
the National Highway Traffic Safety Administration could pull in getting autonomous driving rules in place for Tesla’s robotaxi testing.
But with thia continuous face off, it seems the good old days are about to be over