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Saturday, 28 June 2025
Markets

Tesla shares sink 4% as Musk continues to bash Trump’s spending bill

Tesla shares sink 4% as Musk continues to bash Trump’s spending bill

Tesla CEO Elon Musk hears US President Donald Trump, talking to reporters at the Oval office of the White House in Washington, DC on May 30, 2025.

Kevin Dietsch | Getty images

Share of Tesla About 4% slipped as CEO on Thursday Elon Musk Congress continued his tireless pressure to “kill” the President Donald TrumpBill spending bill.

In recent times, Musk has threatened primary MPs who vote for the bill and it is “called”Hatred“To mark a significant change in his comments about administration.

The shares decline when the EV manufacturer saw a 22% rally despite the weak sales number in May, in which Kasturi wrapped his time as the department of Trump’s government’s efficiency, or Dog,

This year the stocks are more than 20% below 20% and have reached December 18, away from high levels of $ 488.54.

Since the term of the special government employee of Musk ended on Friday, he appeared with Auds Trump administration And went on a full attack against the President’s signature Tax-cut bill,

“One thing about Elon is that when he goes to all, he goes into everyone,” Walter Isaqson, who wrote a book about Musk, told CNBC’s “Squalk Box” on Thursday.

“He is someone who is not at all calibrate in these things and he is seriously upset,” Isakson said.

The CEO of SpaceX and XAI posted a section of attacks against Trump Bill on Wednesday.

NBC News said that Musk had tried to convince Trump and other GOP members of the administration to change the aspects of Trump’s bill, who curb EV and residential solar. tax credits It produces benefits for Tesla.

This remedy will also impose a new annual $ 250 fee on EV drivers.

Tesla is facing more fundamental problems Plummating sales Its electric vehicles in major markets in Europe and a brand reputation in the west.

Tesla is also under pressure to start a long-time delayed, driverless ride–hailing service this month In Austin,

While Musk has stated that Tesla is already testing driverless vehicles in that market, its primary contestant Wemo is already operating a major commercial robotaxi service in partnership with Uber.

Musk’s biography Isakasan said on Thursday that Tech Santibilineer was also irritated with members of the Trump administration, who had worked against the nomination Jared Isaqman As the head of the space agency NASA.

Isakasan said on Thursday, “For Kasturi, just because they were doing, they were going after Jred Isaqman.”

Isaacman led two private spaceflights in 2021 and 2024 through the SpaceX of Musk, commanding the crew on trips around the Earth. His payment tech company Shift4 said in a financial filing that till June 30, 2021, it had invested $ 27.5 million in SpaceX.

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