Tesla, Trump and Elon Musk
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Tesla Inc dropped 14% in a single day yesterday, representing one of its most significant one-day falls in the past few years.
The maker of electric vehicles and solar-energy products saw its stock tumble after CEO Elon Musk’s public spat with President Donald Trump.
Tesla is trying to prevent the city of Austin, Texas, from releasing public records to Reuters involving the EV maker’s planned launch of self-driving robotaxis in the city this month.
Tesla stock recovered some of the losses from the previous session on Friday after posting its worst single-day decline since March.
Bloomberg journalists discuss today's biggest winners and losers in the stock market. Listen for analysis on the companies making news on Wall Street.
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Tesla is the worst-performing large-cap stock this year, thanks to declining electric vehicle demand, Chief Executive Elon Musk's political controversies over his ties to far-right groups, and now, his public feud with President Donald Trump.
Stock futures are slightly higher Friday morning as investors await the release of a closely watched monthly report on the labor market.
Investors bought hundreds of billions of dollars of Tesla stock after Trump was elected on a bet that politics were more important than profits.