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Tesla Drops 5%: Musk's Trump Critique & Tax Cuts Hit Profits
Friday, Jun 6, 2025 4:52 am ET1min read
Tesla, Inc. plunged 5.05% in premarket trading due to Musk's strong opposition to Trump's spending bill, which could eliminate tax credits for some models and other electric vehicles, potentially impacting the company's annual profits by approximately $1.2 billion. Additionally, Tesla's sales in China and Europe have declined, affecting its international sales performance.
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