Tesla’s stock is experiencing a bounce back this Friday morning, possibly indicating that tensions between CEO Elon Musk and former President Trump are easing.
The share price jumped over 5% on the Frankfurt Stock Exchange after reports surfaced late Thursday that Trump’s team had arranged a call with Musk for Friday, likely aiming to de-escalate the tensions that have been growing beyond just social media exchanges.
When questioned about the ongoing friction with Musk, Trump remarked, “Yeah, that’s fine.” He added, “It’s been going very well; it’s never going to go well,” hinting at the complexities of their relationship.
The president also stated, “The numbers are the best poll I’ve ever had, and I have to go,” which, perhaps, reflects his ongoing focus on public sentiment.
This uptick in Tesla’s stock follows a drop in another electric vehicle company’s shares, coming just a day after Trump and Musk exchanged sharp comments in a very public feud that seems to be straining their previously strong connection.
Musk intensified his criticisms of Trump’s flagship “big, beautiful bill,” suggesting that Trump wouldn’t have secured the 2024 presidential nomination without backing from billionaires. In response, Trump labeled these wealthy supporters as “crazy” and hinted at potentially withdrawing significant federal contracts from Musk’s companies.
The back-and-forth escalated further when Musk insinuated that Trump was linked to the convicted sex offender Jeffrey Epstein. He also warned that he might ground SpaceX shipments, which are essential for transporting cargo and astronauts to the International Space Station, if the situation didn’t improve.
Trump, for his part, commented on social media, “I don’t care if Elon opposes me, but he should have done that a few months ago. This is one of the biggest bills ever presented to Congress: a record-breaking cost of $1.6 trillion, the largest tax cut ever.”
He added, “If this bill doesn’t pass, there will be a 68% tax increase, which can be much worse. I didn’t create this confusion. I’m here just to fix it. This puts our country on the path of greatness.”
As the clashes continue, both sides seem to have allies urging for reconciliation, and it appears Musk is open to de-escalating the situation.
“I support @RealdonaldTrump and @Elonmusk. They should make peace for our great nation,” hedge fund manager Bill Ackman expressed on social media, further suggesting that unity would make them stronger. Musk replied positively to this sentiment.
