Tesla shares experienced a significant drop, falling by more than 10%, as a result of escalating tensions between US President Donald Trump and Tesla CEO Elon Musk. The friction arose over the controversial tax cut bill proposed by Congress.
Elon Musk, who recently resigned from his role as an advisor to President Trump, did not hold back in expressing his disapproval of the tax legislation. His outspoken criticism has only served to intensify the discord between him and the President.
The electric vehicle giant, Tesla, saw its stock price dip to below $300, marking a loss of over 10% in value. This downturn can be attributed to investor concerns stemming from the ongoing political dispute.
In a candid post on his X social media account, Musk lambasted the tax cut bill, which President Trump had enthusiastically labeled as “One Big Beautiful Bill.” Musk did not mince words, calling the bill a “disgusting disgrace” and expressing his discontent by stating, “I’m sorry, but I can’t take it anymore.”
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