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Musk row with Trump is ‘damaging' Tesla, warns Wall Street [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
Shares in the electric car maker dropped by as much as 4.5pc at the opening bell on Wall Street after analysts warned the company faces an uncertain outlook. The stock has dropped about 30pc so far this year. The Tesla boss called for the impeachment of Mr Trump on Thursday in a series of social media posts attacking the president. Mr Trump continued the war of words on Friday when he claimed Mr Musk had “lost his mind”, despite officials claiming he was “over” their public spat. Argus Research today downgraded Tesla's stock from buy to hold, saying the feud was emblematic of how the stock “appears to be currently trading on non-fundamentals events”. Analysts said: “Looking ahead, we are concerned that the war of words between President Trump and Elon Musk, along with expiration of EV credits, could further weaken demand for new Teslas.” Meanwhile, investment bank Baird downgraded its stock recommendation to neutral. Analyst Ben Kallo said: “The recent incident between Mu
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