Reports that the White House had booked a call with Elon Musk to tone down the conflict with Trump were followed by signals from Musk on social media that he would like to cool down the atmosphere. But on Friday, Trump clarified that no call would take place.
In trading on the Frankfurt Stock Exchange – where Tesla's stock is also traded – Tesla is down 4.3 percent. This comes after a drop of just over 9 percent on the same exchange on Thursday.
Climbs 4 percent
The price development in Frankfurt largely reflects the crash for Tesla on Wall Street with 14 percent on Thursday – a decline that, according to Bloomberg, contributed to reducing Elon Musk's wealth by 34 billion dollars (over 320 billion kronor).
When Wall Street opened on Friday in New York, Tesla has risen by about 4 percent after 20 minutes of trading.
The big quarrel on social media took off after Musk criticized the Trump administration's disputed tax package and after Trump withdrew the nomination of Jared Isaacman, a friend of Musk, to the post of new head of NASA.
Musk has said in a series of posts on social media, among other things, that Trump should be put on trial, never would have won the presidential election without Musk's help, and claimed that Trump was involved in the investigation into the sex trade scandal surrounding Jeffrey Epstein. Trump has responded by calling Musk "crazy" and threatening to tear up all government contracts that have gone to Musk's various companies.
Wealth eroded
The conflict erupted after Musk last week ended his assignment at Doge, the Trump administration's unit for public reductions.
Since the turn of the year, Musk's wealth has shrunk by 98 billion dollars (equivalent to 940 billion kronor) to 335 billion dollars, according to the Bloomberg Billionaires Index. And Tesla's market value has plummeted by almost 30 percent.
