TRUMP COIN &TESLA STOCK CRASH BIG AMID ELON MUSK & DONALD TRUMP FEUD: HERE'S WHAT'S NEXT!
The feud between Elon Musk and Donald Trump has caused quite a stir in the financial markets. Here's what's happening :
Tesla Stock Plummets: Tesla's stock price crashed 14% on Thursday, closing at $284.70, wiping out $153 billion in market value. This significant drop is attributed to the public spat between Musk and Trump, with investors worried about potential losses in federal subsidies and contracts for Tesla.
Trump Coin Takes a Hit: Trump's eponymous memecoin also suffered, falling about 10% in intraday trading to $9.66. The crypto market as a whole saw a broad risk-off retreat due to the uncertainty introduced by the feud.
Musk's Net Worth Impacted: Elon Musk's net worth took a hit of roughly $27 billion, bringing his total to $388 billion.
What's Next?
Federal Support Uncertainty: Investors are concerned that Tesla might lose key federal support due to the feud, potentially impacting the company's earnings outlook.
Market Volatility: The conflict may escalate into full-blown political warfare, affecting not just Tesla but also the broader market.
Investor Sentiment: Analysts warn of a "lose-lose" scenario, where both Musk's business empire and the Trump administration face heightened uncertainty .
Key Stats:
Tesla's Market Value Loss: $153 billion
Tesla's Stock Price Drop: 14.26%
Musk's Net Worth Loss: $27 billion
Current Tesla Stock Price: $284.70
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