Tesla share price crashes over 14%, loses $150 billion in value as Trump-Musk public feud intensifies
Tesla share price crashed more than 14% on Thursday as the public feud between CEO Elon Musk and US President Trump intensified. Tesla shares slumped as much as 14.26% to close at $284.70 apiece.
Tesla stock price has fallen in four out of the last five sessions. The electric vehicle (EV) company has lost about $150 billion in value after Trump and Musk began their verbal war.
Musk has stepped up criticism of the president’s massive tax legislation in recent days, while Trump alleged Musk was upset because the bill takes away tax benefits for electric vehicle purchases, Reuters reported.
The fall in Tesla share price came after Trump’s threats to terminate Elon Musk’s government subsidies after Musk criticized Trump’s tax and spending bill. Tesla helped pull down the Nasdaq Composite index, which closed 162.04 points, or 0.83%, lower at 19,298.45.
The Dow Jones Industrial Average declined 0.25% to 42,319.74, while the S&P 500 fell 0.53% to 5,939.30.
