The feud between Tesla (TSLA) CEO and President Trump has escalated extremely quickly as both parties continue to hurl disparaging remarks at each other. After accusing Trump of displaying “ingratitude” towards him, Musk has now warned that Trump’s tariffs will result in a recession during the second half of the year in an X post.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
TSLA Stock Plunges as Trump-Musk Feud Escalates
Earlier today, Trump said that Tesla was having difficulty in selling its electric vehicles and that the U.S. would save billions if it cancelled subsidies and contracts for Musk’s companies. He also warned of a 68% tax increase if his “one, big, beautiful bill” fails to pass.
In response, Musk announced that SpaceX would immediately begin the process of decommissioning its Dragon spacecraft. Taking a step further, Musk wrote “Yes” in a quoted post asking if Trump should be impeached.
TSLA stock closed the Thursday session with a 14.26% loss, erasing roughly $150 billion in market capitalization, and has continued to fall in after-hours trading.
Looking for a trading platform? Check out TipRanks' Best Online Brokers , and find the ideal broker for your trades.
Report an Issue