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The Independent UK
The Independent UK
National
Karl Matchett

News of Trump-Musk ceasefire saves Tesla shares from another nosedive after $99bn loss

Tesla Inc. Elon Musk Donald Trump
  • Tesla shares are expected to rise by 5.7 per cent following a $99 billion hit due to a feud between Elon Musk and Donald Trump.
  • The electric vehicle manufacturer's share price dropped over 14 per cent after an argument between Musk and Trump, impacting Tesla's market capitalisation.
  • A ceasefire between Musk and Trump is expected, with a meeting planned, leading to renewed investor interest in Tesla stock.
  • The sell-off caused Tesla to lose its status as a $1 trillion company, and Musk′s networth decreased by approximately $34bn.
  • Potential changes to tax incentives for EV purchases and threats to cancel government contracts with SpaceX could further negatively impact Tesla and Musk's other business interests.

IN FULL

Tesla shares rebound on news of Musk and Trump talks after explosive feud cost firm $99bn in a day

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