Tesla shares drop on Musk, Trump feud ahead of Q2 deliveries
During a meeting between Tesla Inc.’s CEO CEO, US President Donald Trump and President of South Africa Cyril Ramaphosa, Washington was not depicted at the Oval office of the White House on Washington, DC.
Jim Lo Scalzo | Bloomberg | Getty Images
Tesla Stocks fell 7% from the closing price of $ 323.63 of Friday The company’s second quarter delivery report is closed on Tuesday, $ 300,71.
Wall Street analysts expect Tesla to report a decrease of approximately 13% compared to about 444,000 deliveries a year ago, compiled by Factset. The estimation market Kalshi told CNBC that traders estimate about 364,000 deliveries on Tuesday.
The shares in the electric vehicle manufacturer were rising after starting a limited Robotaxi service in Austin, Tesla, and CEO Elon Musk boasted a customer of a car’s first “driverless delivery”.
The stock price made a return with Musk’s President Donald Trump on Saturday after filed a lawsuit against the gigantic bill approved by the Commander -in -Chief. The bill is going now Final vote at home.
This legislation reduces expenditures such as Medicaid and food aid, while higher income households in the USA will benefit.
Musk did not object to cutting these special programs. But, Musk said on x The draft would worsen the US deficit and increase the debt ceiling. According to an analysis by the Congress Budget Office, the law bill includes tax cuts that will add about $ 3 trillion to the national debt in the next decade.
Tesla CEO also criticized the design of the bill that will support renewable energy development in the US and reduce hundreds of billions of dollars to support tax loans for electric vehicles.
Such changes may damage Tesla because they are expected to reduce home sales by 2035 vehicles per year. accordingly Think of tank energy innovation.
According to Energy Innovation, the bill is also expected to reduce renewable energy development with more than 350 cumulative Gigawatts. This can print Tesla’s energy department selling solar and battery energy storage systems to public services and other clean energy project developers.
Trump told journalists at the White House on Tuesday that Musk was “sad to lose his home task,” but the CEO of Technology said “he might lose much more than that.” Trump was interested in subsidies, incentives and contracts that Musk trusted many businesses.
According to Fedscout, who conducted federal expenditures and government agreements, SpaceX has been taking over $ 22 billion with the federal government since 2008. NASA also includes the contracts of the US Air Force and Space Force.
According to the evaluation of financial applications made by the FedSCout CEO of the home manufacturer by FedSCout CEO of the home manufacturer, “automotive regulatory loans” or environmental loans have been reported to sales since 2015.
These incentives are largely derived from federal and state regulations in the US, which require automobile manufacturers to sell a number of low emissions or receive credit from companies such as Tesla.
Regulatory credit sales go directly to Tesla’s profitability. Credit revenue was about 60% of Tesla’s net income in the second quarter of 2024.
WRISTWATCH: Threats to SpaceX & Tesla as Musk, Trump Feud Warm
