Trumped Up Trouble: Tesla's Stock Sinks Amid Musk-Trump Disagreement, Costing $150 Billion!
Tesla's market value reduced by an astounding 150 billion dollars.
Get a load of this! The controversial clash between Elon Musk and President Trump sees Tesla's stock nose-diving, shedding a staggering $150 billion in just a day. Here's the gist:
The frenemy duo's spat is giving Tesla quite a headache. The company's share price plummeted an annoying 14% during today's U.S. stock trade. Talk about a pain in the rear!
The financial whizzes over at Bloomberg did some quick math and reckon Musk's personal wealth slumped a whopping $34 billion, down to $335 billion (about $293 billion), as a result of Tesla's rocky stock ride. Ouch!
Trump had been threatening to pull the plug on Musk's companies' government subsidies and contracts. SpaceX, another of Musk's gaming projects that the U.S. currently counts on for astronaut flights and militia missile launches, might be next on the chopping block. Musk, in retaliation, took to Twitter to rally for Trump's impeachment, commenting on Tesla's tumultuous fortunes.
After Trump's White House win in November, Tesla's stock saw quite the turnaround, with investors salivating over the potential benefits that the company could reap from Musk's chumminess with Trump. However, Tesla has been under the watchful eye of several traffic safety probes of late.
Musk's Personal Turmoil - His Wealth on the Line!
Now this ain't a walk in the park for our rich bud Musk either. You know how when you've got lemon, put it in tequila? Yep, Musk has a penchant for securing loans with his Tesla shares. That's how he became paper-rich (well, technically). As a rule of thumb, if a certain share price threshold is breached, he gotta cough up more collateral. And guess what? Tesla shares have been underperforming lately, which ain't helping Musk's cause.
Sources: ntv.de, chl/rts/dpa
- Tesla Motors
- Elon Musk
- Donald Trump
- Stock Prices
Insights:
- Tesla's Stock Prices: The feud between Musk and Trump has directly impacted Tesla's stock, with the company losing more than $150 billion in market value on a single day 2.
- Government Contracts: Tesla and other companies led by Musk, such as SpaceX, rely on government contracts to stay afloat. Trump's threat to withdraw these contracts raises serious concerns about the company's financial stability 1.
- Elon Musk's Wealth: Musk's net worth is closely tied to the performance of Tesla's stock. His personal wealth dropped by approximately $34 billion due to the decline in Tesla's stock price 4.
- The current disagreement between Elon Musk and President Trump is causing significant turmoil for Tesla, as the feud has resulted in a staggering loss of over $150 billion in Tesla's stock value [2].
- The financial health of Tesla and its CEO, Elon Musk, is closely tied to government contracts, as Trump's threat to withdraw these contracts raises questions about the company's financial stability [1]. Furthermore, Musk's personal wealth, worth around $335 billion, has decreased by approximately $34 billion due to the decline in Tesla's stock price [4]. This situation highlights the importance of employment policy, finance, business, politics, and general-news regarding the impact on EC countries' economies.
