Tesla’s shares have fallen 16% since CEO Elon Musk began hitting President Donald Trump’s massive bill last week, and the shares remain approximately 33% lower since the day of the inauguration.
The slide since May 27 follows the departure of Musk of the Trump administration and as the relationship of the two men publicly unravels.
Elon Musk, the richest person in the world and until recently Trump’s chief cost, said he was leaving his position as head of his efficiency project of the Government Department to rename in his businesses. Those companies, Tesla, the SpaceX satellite company, the social media platform X and the Brain Tech Neuralink startup, have faced increasing criticism as Almizcle supervised the deep cuts to the Federal Labor Force. Tesla’s sales worldwide have fallen abruptly this year.
Trump and Musk were still exchanging insults on Thursday afternoon online, with the president threatening with his social platform of truth to “finish the subsidies and government contracts of Elon.”
Tesla’s shares closed more than 14% on Thursday. The automobile manufacturer is the only company that is quoted in Musk’s stock market, and one that the president tried to increase as recently as March, which caused strong criticism for ethical reasons for converting the entrance path of the White House into a car exposure room just when the company’s shares were immersed.
The Trump-Musk crack has abolished Tesla again after the billionaire executive criticized the spending of the republican party spending as “an unpleasant abomination” in a position in X last week.
“Banking the bankruptcy of the United States is not right!” He wrote in other Post, part of a alluvious public alluvion.
Musk began talking after a fiscal credit of electric vehicles that helped to encourage Tesla’s purchases was not included in the invoice, which is estimated to add $ 2.4 billion to the national debt for 10 years. Musk has pressed the Republicans of Congress for that fiscal credit, NBC News reported Wednesday.
“I was disappointed to see the massive bill of expenses, frankly, which increases the budget deficit, does not diminish and undermines the work that Doge’s team is doing,” Musk told CBS Sunday Morning on June 1.
While Trump talked about the former Doge chief in the Oval office on Thursday along with German Chancellor Friedrich Merz, Musk began shooting dozens of positions in X.
“Whatever it is,” he wrote. “Keep the EV/Solar incentive cuts in the bill, although there are no play and gas subsidies (very unfair!), But leave the mountain of disgusting meat in the bill. In the entire history of civilization, there has never been legislation that is large and beautiful.
Trump retreated more about Musk’s criticism.
“Elon knew the internal functioning of this bill better than almost any person sitting here, better than you. I knew everything about it. I had no problem with it,” he said during the meeting with Merz. “Suddenly he had a problem, and he only developed the problem when he discovered that we will have to reduce the mandate of EV because there are thousands and billions of dollars, and it really is unfair.”
While Trump continued talking, Tesla’s CEO published another comment: “False, this bill never shown me once and was approved in the dark of the night so fast that almost no one in Congress could read it!”
The technology analyst Dan Iives said that the EV fiscal credit is not the main factor behind the fall of shares of Tesla. “The reason why Tesla Stock is out of the way it is, and I think that exaggerated, is because of the opinion that this means that Trump will not play well when it comes to regulatory,” he told CNBC on Thursday. The dispute between the two men “is not what you want to see as Tesla’s shareholder,” Iives added.
“Where is this guy today?” Musk added on Thursday in another publication, reflecting on a compilation of Trump’s previous tweets, including one in which Trump had previously described the federal debt “a national security risk of the highest order.”
“Without me, Trump would have lost the elections, the Democrats would control the camera and the Republicans would be 51-49 in the Senate,” Musk added on social networks. “Such ingratitude.”
Musk is the richest person on the planet, according to the Bloomberg billionaire index. Its net assets of $ 368 billion is $ 125 billion more than that of the Meta Mark Zuckerberg CEO, who currently occupies the second place. Musk spent $ 250 million supporting Trump’s most recent campaign.
The president joked from the White House that he believes that Musk “loses the place.”
“I think it came out and, suddenly, I wasn’t in this beautiful oval office, and it was and also has good offices, but there is something in this,” he said.
The company’s own company is quoted in the president, Trump Media & Technology Group, has also suffered in the market. The actions of the Matrix of Truth fell more than 8% on Thursday and have dropped more than 41% so far this year.
