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Tesla Shares Rebound Midday as Trump-Musk Rift Deepens
Written byWallstreet Insight
Friday, Jun 6, 2025 1:16 pm ET1min read
Tesla stock climbed Friday midday, reversing some of Thursday’s steep losses even as a very public feud between President Donald Trump and CEO Elon Musk showed no signs of cooling.
Shares of the electric vehicle maker were up 5.81% to $301.26 at 1:01 PM ET. The move higher follows a punishing 14.3% decline on Thursday amid heightened political drama and investor uncertainty around the escalating dispute between the two high-profile figures.
According to Axios, President Trump is now weighing the sale of his red
Model S, a car he publicly praised and promoted on the White House lawn just months ago. The reversal underscores the breakdown in relations between the president and Musk, who has emerged as a vocal critic of the administration’s flagship “One Big Beautiful Bill,” a sweeping tax and spending measure.Tensions escalated further after Musk called for Trump’s impeachment, a move that reportedly led the president to decline a call with the Tesla CEO. A White House official confirmed to CNBC that Trump is “not interested” in resolving the feud through direct conversation.
Former Trump strategist Steve Bannon added fuel to the fire by urging the president to seize control of SpaceX via executive order. “The U.S. government should seize it. Elon Musk is illegal. He’s got to go too,” Bannon said during an episode of his podcast War Room Live. Musk quickly responded on X, the social media platform he owns, posting: “Bannon is a criminal”.
The clash has also triggered market and reputational fallout for both parties. While Tesla has faced sales declines amid progressive consumer backlash over Musk’s political affiliations, it has simultaneously gained traction among conservative buyers, reflecting the nation’s deepening political polarization.
Despite Friday’s bounce in Tesla’s stock, uncertainty looms over whether the company can remain insulated from the fallout of its CEO’s political confrontations. For now, investors appear to be attempting a tactical reset after Thursday’s sharp selloff.
Wallstreet Insight
Expert analysis on U.S. markets and macro trends, delivering clear perspectives behind major market moves.
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