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News of Trump-Musk ceasefire saves Tesla shares from another nosedive after $99bn loss

Elon Musk and Donald Trump ‘s relationship has descended into acrimony
Elon Musk and Donald Trump ‘s relationship has descended into acrimony (AFP/Getty)
  • Tesla shares are expected to rise by 5.7 per cent following a $99 billion hit due to a feud between Elon Musk and Donald Trump.
  • The electric vehicle manufacturer's share price dropped over 14 per cent after an argument between Musk and Trump, impacting Tesla's market capitalisation.
  • A ceasefire between Musk and Trump is expected, with a meeting planned, leading to renewed investor interest in Tesla stock.
  • The sell-off caused Tesla to lose its status as a $1 trillion company, and Musk′s networth decreased by approximately $34bn.
  • Potential changes to tax incentives for EV purchases and threats to cancel government contracts with SpaceX could further negatively impact Tesla and Musk's other business interests.
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