Trump publicly supported Musk's Tesla despite a previous feud, stating that he wants American businesses to thrive. However, Tesla's stock fell 9% after disappointing financial results, revealing a 12% drop in revenue and a 16% decrease in profit. Increased competition and Musk's political positions have softened buyer interest. Investors are wary due to Trump's previous threats to revoke government contracts and subsidies. Nevertheless, Trump reassured that he would not harm Musk's companies, emphasizing the economic benefits of their success.
Transcending a past rivalry, Trump expressed support for Musk, emphasizing a vision where thriving businesses like Tesla contribute positively to the economy, declaring, "The better they do, the better the USA does, and that's good for all of us."
Tesla reported a decline in revenue and profit for the April-June quarter, alarming investors and prompting concerns over future performance as competition intensifies and buyers are deterred by Musk's political stances.
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