Elon Musk’s latest feud with Donald Trump has sent shockwaves through the tech world, leaving investors and analysts scrambling to make sense of the fallout. The Tesla CEO’s comments on social media sparked a 14% drop in shares on Thursday, but the stock recovered slightly on Friday as tensions between the two men appeared to ease.
The Controversy
The controversy began when Musk called Trump a “dumb guy” and claimed he had no idea what was going on in Washington. The remarks were met with swift backlash from investors and analysts, who have long been wary of Musk’s mercurial behavior.
Industry Reactions
- Kara Swisher, a veteran tech journalist, believes that Tesla is struggling due to competition from rival Waymo, which has been operating autonomous taxis in several cities for years.
- Analysts are closely watching the upcoming launch of autonomous robo-taxis in Austin, Texas, later this month as a key test of Tesla’s ability to deliver on its promises.
Impact on Musk’s Reputation
- Ross Gerber, President and CEO of Gerber Kawasaki Wealth and Investment Management, states that Musk’s involvement in right-wing politics has damaged his reputation and hurt Tesla’s stock price.
- Joan Donovan, a disinformation researcher, argues that Musk has used Twitter (now X) as a tool for spreading misinformation and influencing public opinion without being transparent or accountable.
Potential Recovery
Musk’s personal brand could recover if he distances himself further from Donald Trump, according to Patrick Moorhead, chief analyst at Moor Insights & Strategy. He points out that Microsoft co-founder Bill Gates was once seen as arrogant but eventually changed his ways.
Opportunities for SpaceX
The controversy surrounding Musk may also have an unexpected benefit: it could give SpaceX an opportunity to break away from its dependence on Donald Trump. Noah Smith writes in his Substack blog post, The Noahpinion, that this latest controversy could be a turning point for SpaceX.
Conclusion
For now, investors will be closely watching how these developments play out for both Tesla and SpaceX over the coming weeks. Will they be able to bounce back, or will they continue down the path set by their controversial leader?
In Related News
- Tesla’s share price dropped 14% after Elon Musk’s comments about President Donald Trump.
- Analysts are watching Tesla’s upcoming launch of autonomous robo-taxis.
- Elon Musk’s personal brand may suffer if he continues down the current path.
- SpaceX may see an opportunity to break away from dependence on Donald Trump.
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