Elon Musk's public criticism of President Trump's new tax bill has resulted in a nearly 9% drop in Tesla shares. Some investors see this as a sign of increasing tension between Musk and Trump, with sales of Tesla's EVs declining in key markets. Trump's remarks imply disappointment over Musk's stance, while Musk describes the tax legislation as a "disgusting abomination". These developments lead to questions about Musk's ongoing relationship with the Trump administration and his influence on Tesla's market performance.
Musk's leadership of DOGE and alignment with the Trump administration have put off some Tesla buyers, leading to slumping EV sales in key markets.
On X, Musk criticized the tax bill, calling it a "disgusting abomination," stating it undermines cost savings achieved by his department.
Trump remarked on their shifting relationship, expressing disappointment over Musk's criticism of the tax bill, deflating Tesla shares around the same time.
Investors noted a 9% drop in Tesla shares amidst Musk's public critique of the tax legislation, speculating on strains in his relationship with Trump.
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