Tesla Inc.’s stock price plummeted 14% on Thursday, driven by CEO Elon Musk’s ongoing criticism of President Donald Trump’s spending plans. The move came as the electric-car maker’s market capitalization dropped nearly $200 billion since Musk left the Trump administration’s Department of Government Efficiency a week earlier.
Musk publicly attacked the Republican One Big Beautiful Bill Act, which aims to phase out federal tax credits supporting electric vehicle sales. The House of Representatives passed the bill, and it is now being debated in the Senate.
Investors lost confidence in Tesla as a result of Musk’s comments, contributing to the significant drop in stock value. This move also reflects concerns about the impact of changing government policies on the company’s future growth prospects.
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Source: https://www.marketwatch.com/story/teslas-stock-is-too-expensive-even-if-musk-and-trump-make-up-7cd5f65d