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Tesla Shares Drop as Donald Trump Threatens Subsidy Cuts Following Elon Musk Clash
Prices of Tesla shares fell by about 5% in pre-market trading today amidst a heated exchange between Donald Trump and Elon Musk.
Musk has been on the attack over the president’s prospective legislation conveniently called by Trump the “big, beautiful bill.” The exchange heated up again in the past few hours, after the tech mogul promised to go so far as to start a new political party to oppose the bill’s supporters if it passes.
Source: XTrump didn’t take it lightly and immediately leveraged his political powers in response, saying:
Musk was quick to counter, urging the president to actually go ahead and cut the subsidies. Meanwhile, Trump also said that he could “los a lot more than” the EV mandate, with some speculators immediately beginning to discuss the possibility of a deportation.
Meanwhile, the odds of Elon Musk creating his own political party called “America’s Party,” skyrocketed on Kalshi, currently standing at 40%.
Source: Kalshi