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Tesla hits over three-week low as Trump-Musk feud escalates

ReutersJul 2, 2025 12:45 AM

Tesla TSLA.O shares fall to a more than three-week low, last down ~6%

U.S. President Donald Trump called for a review of government subsidies to Elon Musk's companies, aiming to cut spending, rekindling tensions between the two

Musk's businesses, especially Tesla and SpaceX, are highly dependant on an array of federal contracts and subsidies that offers co billions of dollars in revenue

On June 5, Trump-Musk feud exploded causing TSLA to slump 14.3%, losing about $150 billion in market value, its largest single-day decline in value ever

Meanwhile, co's June sales rose in Norway and Spain, while dropped for a sixth straight month in Sweden and Denmark

TSLA down ~25.5% YTD

Reviewed byJane Zhang
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