Musk-Trump Feud Tanks Tesla Stock: Meme Stock Meltdown?
Tesla stock plummeted 14% following President Trump’s threat to revoke government contracts from Elon Musk’s companies. This drastic action stemmed from a public dispute over the spending bill, with Trump citing Musk’s displeasure over the bill’s exclusion of EV credits and Musk’s subsequent criticism of the legislation. The conflict marks a sharp deterioration in their previously amicable relationship, highlighted by Musk’s strong public statements against the bill and the administration. Trump claimed to have ended Musk’s EV mandate, prompting Musk to retort that Trump’s election and the current Senate majority were dependent on his support.
John Q. Hosedrinker