Tesla shares tanks 14%, losing $ 150 billion on market value amid explosive Musk-Trump collision | Today news

Shares from Elon Musk’s electric vehicles manufacturer fell sharply on Thursday as investors feared that she was disputeing with President Donald Trump to injure the company. Tesla plunged more than 14% when a disagreement over the US President’s Budget Bill became nasty. After Musk said Trump would not be elected without his help, Trump implied that he could turn the federal government against its businesses, including Tesla and SpaceX. “The easiest way to save money in our budget, billions and billions of dollars is to end Elon’s government subsidies and contracts,” Trump wrote about his social messaging service Truth Social. “I was always surprised that Biden didn’t do it!” The fall on Thursday wiped out nearly $ 150 billion from Tesla’s market value, which partially reversed a big run in the eight weeks since Musk confirmed that Tesla would test an autonomous, driverless “robotaxi” service in Austin, Texas this month. Investors fear that Trump may not be such a rabbit to introduce a future of self -managed cars in the US, and it could clap Tesla because so much of its future business depends on it. “There is a fear that Trump does not intend to Mr. Nice Guy to play when he comes autonomously, ‘said Ives, analyst of Wedbush Securities. ‘The whole purpose of robotax is to have 20 or 25 cities next year. If you start increasing the regulatory environment, it can delay the road. ‘ Trump’s threat of cutting government contracts seems more on another of Musk’s businesses, SpaceX, his private rocket company that has received billions of dollars to send astronauts and cargo to the International Space Station, offer launches and do other work for NASA. The company is currently rushing to develop a mega rocket for the space agency to send astronauts to Moon next year. It seems that a SpaceX subsidiary, the satellite internet business Starlink, has also benefited from Musk’s one-minded relationship with the president. On a trip with Trump to the Middle East last month, Musk announced that Saudi Arabia has approved its satellite service for aviation and maritime use. Although it is not clear how much politics has played a role, a series of other recent transactions for the company in Bangladesh, Pakistan, India and elsewhere came when Trump threatened rates and sent diplomats to please the president. One measure of the success of SpaceX: a private financing round, followed by a private sale of shares that recently valued it at $ 350 billion, higher than a year ago of an estimated $ 210 billion. Tesla shares initially got a lift of its support for Trump. In the weeks after Trump was elected, Tesla shares reached a peak on December 17, but they returned the profits during Musk’s time as head of a government-cut group, while Tesla’s reputation received a hit. They recently moved higher after Musk promised to focus much more on Tesla and the upcoming launch of driverless taxis.