Tesla CEO Elon Musk walks to board Air Force One with U.S. President Donald Trump (not pictured) as they depart for Philadelphia, Pennsylvania, from Morristown Municipal Airport in Morristown, New Jersey, U.S., March 22, 2025.
Nathan Howard | Reuters
Tesla rallied for a fourth straight session as the spat between CEO Elon Musk and President Donald Trump showed further signs of a cooldown.
Shares rose about 2% Wednesday and were up more than 12% this week.
Tesla investors also caught a spark of hope for the company’s robotaxi strategy after Musk said the service will “tentatively” launch in Austin, Texas on June 22. In a post on X, Musk said the first driverless robotaxi will travel from the factory to a customer’s house on his June 28 birthday.
Overnight, the Tesla CEO said in a post on social media platform X that he regrets some of his recent social media posts about Trump and that they “went too far.”
Tesla year-to-date stock chart.
Last week, a public feud between the two erupted, dissolving a tight-knit partnership that included hefty donations to Trump’s re-election campaign and a leadership role for Musk in slashing budgets at the newly created Department of Government Efficiency, known as DOGE.
Musk’s attacks on the Trump-backed massive tax and spending bill initially sparked the feud.
Musk blasted the plan on X, calling it a “disgusting abomination” that would hike the current deficit.
That escalated a tit-for-tat social media battle that resulted in Trump hinting at cutting government contracts with Musk’s companies and led to Tesla’s biggest-ever market cap loss.
— CNBC’s Lora Kolodny contributed reporting