Tesla, Elon Musk and Donald Trump
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Strong jobs report, Tesla rebound buoy markets
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Shortly after the market opened, Tesla stock rose 5.4% to $300.09. The rise is a relief. Tesla stock was roughly $355 before the feud started escalating. Shares closed at $284.7, dropping 14% on Thursday,
Tesla shares climbed more than 3% in U.S. premarket trading Friday, recovering slightly after a 14% plunge a day earlier. The electric vehicle maker lost $152 billion in market capitalization Thursday as traders reacted to a public feud between CEO Elon Musk and President Donald Trump.
The stock has been on a roller coaster ever since President Trump’s election. The shares fell nearly 15% this week.
US stock market surges as Dow rallies 500 points after a stronger-than-expected May jobs report lifts investor confidence and eases fears of an economic slowdown. The S&P 500 touches 6,000, marking its highest point since February,
Year to date, Apple ( AAPL -0.14%) and Tesla ( TSLA -3.21%) have been the two worst-performing "Magnificent Seven" stocks, notching losses of 19% and 15%, respectively. But Wall Street expects Apple shares to rebound in the coming months while Tesla shares fall even further, as detailed below:
Tesla shares rose 5% in premarket trading. White House officials [reportedly reached out to Chief Executive Elon Musk](
This surge is partly attributed to a general market upturn, but a more significant factor has been CEO Elon Musk’s renewed dedication to Tesla after stepping down
Global stock markets were subdued on Friday as investors hunkered down for key U.S. payrolls data, while Tesla shares clawed back some ground in pre-market trading after a public feud between President Donald Trump and billionaire Elon Musk.