Donald Trump Able to Ditch His Tesla Amid Musk Feud? (Report)

TL;DR

• The value of Tesla shares headed south following the spat between the previous allies.
• Over the previous few hours, although. TSLA rebounded amid rumors that Musk and Trump would possibly sit right down to resolve their variations.

The drama between the once-close pals Donald Trump and Elon Musk continues to accentuate. Minutes in the past, the X account, The Kobeissi Letter, revealed that the American president is supposedly considering ditching his Tesla.

BREAKING: President Trump is contemplating eliminating his Tesla, per WSJ.$TSLA

— The Kobeissi Letter (@KobeissiLetter) June 6, 2025

Earlier this 12 months, Trump purchased a purple Tesla Mannequin S as a public gesture of help for Musk and his EV big amid rising criticism and declining gross sales. Earlier than making the acquisition, the president praised the wealthiest man on the planet and vowed to pay the total worth for the automobile.

“This man [Elon Musk] has devoted his vitality and his life to doing this,” he stated on the time.

Trump’s buy in March triggered a quick uptick within the worth of Tesla’s shares. Nonetheless, the latest battle between the 2 males (which appears to have erupted following a invoice launched by the president final month) has had a unfavourable affect on the corporate’s shares.

On June 5, because the drama between the 2 unfolded, TSLA dropped beneath $275, the bottom level witnessed up to now month. In pre-market buying and selling right now, and as soon as the market opened, although, the value rebounded to round $296, following studies that the strain would possibly ease and expectations that Trump and Musk are open to a dialogue.

Whereas a White Home official supposedly rejected the plans for a name on June 6, Tesla’s CEO appears prepared to seek out methods to bury the hatchet.

Earlier right now, Invoice Ackman (CEO of Pershing Sq.) argued that the 2 males ought to make peace “for the advantage of our nice nation.” Musk replied, “You aren’t fallacious.”

In the meantime, the battle has additionally had a unfavourable affect on the cryptocurrency market. Bitcoin briefly slipped below $101,000, whereas a number of the main altcoins suffered much more substantial losses.

Over 215,000 merchants had been liquidated up to now 24 hours, with the whole quantity of liquidations reaching nearly $1 billion.