business

Rani Molla6/6/25

Trump has reportedly decided to sell his Tesla

President Donald Trump is selling the Tesla he purchased earlier this year, according to The New York Times, which cites an anonymous White House official. CBS earlier reported that Trump was considering selling his little red car. (Given how much Tesla prices have dropped in the used car market, he might get a lot less than what he paid for it.)

In March, during an event that turned the White House lawn into a Tesla showroom, the president said he’d buy the $80,000 Model S “as a show of confidence and support for Elon Musk.” But amid a very public feud between the Tesla CEO and Trump, it seems the president plans to symbolically demonstrate their breakup by getting rid of the car.

In perhaps more consequential news, the rift caused Tesla to lose $152 billion in market cap yesterday. Tesla has a lot riding on its CEO’s relationship with Trump, including federal approval of his self-driving cars as well as legislation that could take away the company’s much-needed regulatory credits.

For now, the AFP reports that the car is still sitting in its White House parking spot as of Friday.

Trump to Sell His Tesla Amid Elon Musk Feud

Trump to Sell His Tesla Amid Elon Musk Feud

In March, during an event that turned the White House lawn into a Tesla showroom, the president said he’d buy the $80,000 Model S “as a show of confidence and support for Elon Musk.” But amid a very public feud between the Tesla CEO and Trump, it seems the president plans to symbolically demonstrate their breakup by getting rid of the car.

In perhaps more consequential news, the rift caused Tesla to lose $152 billion in market cap yesterday. Tesla has a lot riding on its CEO’s relationship with Trump, including federal approval of his self-driving cars as well as legislation that could take away the company’s much-needed regulatory credits.

For now, the AFP reports that the car is still sitting in its White House parking spot as of Friday.

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eBay stock slumps on gloomy Q4 outlook despite solid Q3 earnings

Shares of eBay fell as much as 10.5% in premarket trading on Thursday morning after the company gave a lower-than-expected profit forecast for the important holiday shopping season.

The e-commerce giant reported solid numbers for the third quarter on Wednesday, with revenue up 9% as reported to $2.8 billion and gross merchandise volume rising 10% to $20.1 billion, topping the average analyst forecast of $19.4 billion, per Bloomberg.

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.

EBay Falls After Giving Weak Profit Outlook for Holiday Period

eBay Bloomberg 10/30

However, concerns about the future somewhat overshadowed these results.

eBay outlined its profit outlook for the period ending in December to $1.31 to $1.36 a share, with revenue at $2.83 billion to $2.89 billion. According to Bloomberg-compiled data, this broadly matches Wall Street’s estimates for the top line, but misses on the bottom line, with analysts forecasting EPS to come in at $1.39 — suggesting the company expects some further margin pressure.

The company has been facing macroeconomic challenges since the US ended the de minimis tariff exemption in late August, with the online marketplace reliant on shipments. One small silver lining? CFO Peggy Alford highlighted a “less durable trend” on a post-earnings call: that as commodity prices for precious metals boomed, demand for bullion and collectible coins on eBay spiked.

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