What's Going On With Tesla Shares Today?

Zinger Key Points

Tesla Inc. TSLA shares are trading lower Tuesday amid disagreements between CEO Elon Musk and President Donald Trump. Additionally, Tesla registrations in Sweden and Denmark fell during June.

What To Know: The drop in Tesla shares follows Musk's vocal opposition to Trump's proposed federal spending bill, which Musk called a "disgusting abomination" on social media. Musk warned that if the bill passes, he would form a new political faction, the "America Party." In response, Trump criticized Musk's reliance on federal subsidies, implying Tesla’s survival is tightly linked to government support.

Investment advisor Ross Gerber criticized Tesla's board for staying silent amid Musk's involvement in political discourse. Wedbush analyst Dan Ives added that the feud resembles a "junior high school friendship gone bad," predicting the situation would eventually stabilize but acknowledging near-term market discomfort.

Europe Woes Continue: In addition to political headwinds, Tesla's June registration data showed sharp declines in Sweden and Denmark, where year-over-year drops exceeded 60%. Meanwhile, France saw a 10% fall and Italy a staggering 66% plunge in registrations. The company did see strength in Norway, where Model Y deliveries surged 115% from a year earlier, leading to a 54% rise in overall Tesla sales in the region, according to Reuters.

Despite the release of a refreshed Model Y, which began delivering in several European markets in June, analysts noted the impact appears insufficient to offset Tesla’s broader slide in Western Europe. According to Schmidt Automotive Research, Tesla has now posted six straight quarters of declining registration volumes in the region, with a potential seventh quarter underway.

Tesla is expected to report second-quarter delivery figures later this week, which could further test investor confidence amid growing uncertainty around Musk's leadership, product competitiveness and geopolitical positioning.

TSLA Price Action: Tesla shares were down 4.99% at $301.81 at the time of writing, according to Benzinga pro.

Loading...
Loading...

Read Next:

Image Via Shutterstock.

TSLA Logo
TSLATesla Inc
$303.82-4.36%

Stock Score Locked: Want to See it?

Benzinga Rankings give you vital metrics on any stock – anytime.

Reveal Full Score
Edge Rankings
Momentum
72.20
Growth
90.88
Quality
73.89
Value
9.90
Price Trend
Short
Medium
Long

This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

Market News and Data brought to you by Benzinga APIs

Comments
Loading...