Tesla sales plunge again
It comes after Tesla shares tumbled on Tuesday after Musk reignited his social media war with President Donald Trump , criticizing his proposed tax and spending bill. Unlike most automakers, Tesla doesn't break down sales by model. For example, Ford tells investors how many F-150 pickups rolled off dealership lots. Tesla keeps its sales data vague — reporting total deliveries and picking larger sales data to share with the public.
Higher-end Model S and Model X vehicles received modest updates this past quarter. Despite the sales miss, Tesla stock rose between 3.5 and 5 percent in pre-market trading, before settling closer 2 percent after Wall Street opened. The modest rally followed a rough Tuesday , when CEO Elon Musk stirred controversy after clashing with President Donald Trump.
Musk, who recently left his role as White House advisor, took to social media to criticize Trump's proposed tax and spending bill. On X, formerly known as Twitter, Musk said the bill's reported $3 trillion price tag would send the country into 'DEBT SLAVERY ,' and threatened to fund primary opponents to Republicans who supported the bill. Trump hit back with a series of threats, suggesting the federal government could launch investigations into Musk's companies.
He even hinted at deporting Musk, who was born in South Africa. 'Elon may get more subsidy than any human being in history, by far, and without subsidies, Elon would probably have to close up shop and head back home to South Africa,' Trump posted on Truth Social. 'No more Rocket launches, Satellites, or Electric Car Production, and our Country would save a FORTUNE. Perhaps we should have DOGE take a good, hard, look at this?'
Tesla's stock took a dive right after the barbs, dropping from $311.19 a share to $298.19 between 8:30am and 9am. The stock is down just over 19 percent since January. But investors have gotten used to the company's wild roller coaster ride, analysts said.
'For Tesla investors, volatility is a way of life,' Bret Kenwell, a US investment analyst with eToro, told DailyMail.com. 'While the path has been bumpy, it's been rewarding, with Tesla still sporting a market cap of almost $1 trillion.' Right now, investors are largely betting on Tesla's ability to deliver self-driving taxis. The company launched a modest pilot program in Texas in June after promising the tech was coming to American vehicles for year.
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