Tesla dips on two downgrades over Trump feud
Tesla is down 2% premarket after a pair of downgrades from Argus Research and Baird following last week’s social media feud between CEO Elon Musk and President Trump. While Musk has since deleted some of his most incendiary posts, it appears the damage won’t be quickly undone.
Argus Research downgraded the stock from a “buy” to “hold,” while Baird cut the stock from “outperform” to “neutral” over the political fallout. “The recent incident between Musk and President Trump exemplifies key-person risk associated with Musk’s political activities,” a Baird analyst wrote.
This weekend, Trump told NBC his relationship with Musk was over and that he has no desire to repair it.
Argus Research downgraded the stock from a “buy” to “hold,” while Baird cut the stock from “outperform” to “neutral” over the political fallout. “The recent incident between Musk and President Trump exemplifies key-person risk associated with Musk’s political activities,” a Baird analyst wrote.
This weekend, Trump told NBC his relationship with Musk was over and that he has no desire to repair it.
