Tech
tech
Rani Molla
7/1/25

Ives: Renewed Musk-Trump beef “remains an overhang on Tesla’s stock”

The Elon Musk and Donald Trump beef that erupted last month before cooling is now back on the boiler, after President Trump responded to a series of posts from Musk criticizing his “big, beautiful bill” by threatening to sic DOGE on its former leader’s government subsidies.

Wedbush Securities analyst and Tesla bull Dan Ives said the public scuffle won’t be good for the stock, which is down 5% premarket.

“[The] situation has now turned into a soap opera that remains an overhang on Tesla’s stock with investors fearing that the Trump Administration will be more hawkish and show scrutiny around Musk related US government spending related to Tesla/SpaceX and most importantly the autonomous future with the regulatory environment key to the future of Robotaxis and Cybercabs. We would expect the stock to be weak to kick off trading this morning as the Street will show concern that the Trump and Musk once BFF relationship now backfires and turns into a junior high school friendship gone bad into an enemy.”

Ives, however, expects the two will resolve their differences again. “Musk needs Trump and Trump needs Musk given the AI Arms Race going on between the US and China,” Ives wrote. “At the end of the day being on Trump’s bad side will not turn out well... and Musk knows this and Tesla investors want this back and forth to end.”

Wedbush maintained its $500 price target and “outperform” rating for Tesla.

More Tech

See all Tech
President Trump hosts tech executives and their guests to a dinner at the White House in the Oval Office.

Here are the Trump ties among the tech leaders who had dinner at the White House

Many of the attendees have donated to, vocally supported, or even worked for the president.

Jon Keegan2h
tech
Rani Molla
6h

Tesla’s EV market share declined to 38% in August

In August, Tesla’s share of the US EV market fell to 38%, according to new data from Cox Automotive reported by Reuters. Tesla’s market share fell below 50% for the first time last year, as competitors’ EVs began hitting the market. Now, as Tesla’s own sales slip more drastically than they had last year, it’s giving up even more ground. Tesla’s market share fell from 48.7% in June to 42% in July to 38% in August, according to Reuters. That slide has come even as buyers rushing to take advantage of the federal tax credit that ends this month provide a near-term boon for sales at Tesla and other EV makers.

$115B
Rani Molla
7h

OpenAI now expects to burn around $115 billion through 2029 — a full $80 billion higher than the company had previously estimated, The Information reports.

Just how much is that? It’s roughly equivalent to:

Fortunately for OpenAI, which is raising money at a $500 billion valuation, its revenue is also growing faster than expected. The ChatGPT maker now expects to make $13 billion in revenue this year and $200 billion in 2030.

An annotated photo of who attended the tech dinner at the White House.

An interactive who's-who of the tech execs at Trump's White House dinner

The White House invited a gaggle of top founders and tech executives for an intimate dinner at the White House.

Jon Keegan9/5/25
Rani Molla
Apple of my Eye
9/5/25
Apple’s latest phone is betting on looks, while Google looks inward

Apple gets a hardware upgrade. Google gets a software overhaul.

In this photo illustration, the Apple logo "Awe Dropping...

Latest Stories

Sherwood Media, LLC produces fresh and unique perspectives on topical financial news and is a fully owned subsidiary of Robinhood Markets, Inc., and any views expressed here do not necessarily reflect the views of any other Robinhood affiliate, including Robinhood Markets, Inc., Robinhood Financial LLC, Robinhood Securities, LLC, Robinhood Crypto, LLC, or Robinhood Money, LLC.
©2025 Sherwood Media, LLC