Tesla shares surge at the open following largest one-day drop amid Trump-Musk spat

Shares up 5%

Linus Uhlig
clock • 3 min read

Shares in Elon Musk’s electric vehicle manufacturer Tesla have risen as markets in New York opened today (6 June) after the feud between US President Donald Trump and his former adviser began to de-escalate.

On Thursday (5 June), Tesla's market value suffered its largest one-day drop on record as the spat between Musk and Trump led to a sharp sell-off in the EV manufacturer's shares.  Tesla shed $153bn off its market capitalisation as its shares closed over 14% down, according to data from MarketWatch.  Tempers flared on Thursday after Musk, formerly a close confidante of the US president, criticised Trump's ‘big beautiful' tax bill.  Tesla shares surge after Musk steps down from Trump administration The pair took to social media to trade blows, with Trump initially noting that he w...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Markets

European stocks rise as US and EU near trade deal

European stocks rise as US and EU near trade deal

CAC 40 up 1.4%

Linus Uhlig
clock 24 July 2025 • 1 min read
Shawbrook set for £2bn London IPO - reports

Shawbrook set for £2bn London IPO - reports

Previously taken private

Linus Uhlig
clock 23 July 2025 • 1 min read
US signs 'massive' trade deal with Japan

US signs 'massive' trade deal with Japan

Japan invests $550bn investment into the US

Patrick Brusnahan
clock 23 July 2025 • 1 min read
Trustpilot