Tesla hit with stock downgrades after fallout between Musk and Trump
Tesla was hit with a pair of downgrades on Monday, underscoring mounting concerns on Wall St about the electric vehicle maker's outlook following last week's clash between chief executive Elon Musk and US president Donald Trump.
Both Argus Research and Baird cut the stock to the equivalent of hold ratings, cementing Tesla's reputation as the least-loved megacap stock among analysts. Shares fell 1.6% in premarket trading.
The downgrades mark the latest hurdle for Tesla, shares of which are down about 27% in 2025, making it the weakest performer of the so-called Magnificent Seven stocks.
Tesla shares had rallied in the wake of Mr Trump's re-election, which Musk vigorously supported, but are down almost 40% off their peak in December.
Much of the stock's recent decline came after the blowup between Musk and Trump last week. Mr Musk subsequently suggested he was open to making amends, but the tensions are seen as a significant headwind overhanging the shares.
The first round of negotiations since the teams met a month ago is aimed at restoring confidence that both are living up to commitments made in Geneva.
During those discussions, Washington and Beijing agreed to lower crippling tariffs for 90 days to allow time to devise ways to address a trade imbalance that the Trump administration blames on an unfair playing field.
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Irish Times
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- Irish Times
The Irish Times view on turmoil in Los Angeles: a key test of Trump's power
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RTÉ News
2 hours ago
- RTÉ News
China and US resume trade talks in London
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The Irish Sun
4 hours ago
- The Irish Sun
Elon Musk's estranged dad Errol hails Russia as the ‘peak of civilisation' & gushes over Putin at staged Moscow event
TESLA tycoon Elon Musk's estranged dad Errol has hailed Russia as the "peak of civilisation" - and even gushed over mad Vladimir Putin. , 79, made the explosive remarks in Moscow where he appeared at a Kremlin -backed event organised by the Russian dictator's inner circle. 8 Elon Musk's estranged dad Errol hailed Russia as the 'peak of civilisation' Credit: X 8 He made the explosive remarks in Moscow where he appeared at a Kremlin-backed event organised by Putin's inner circle. Credit: X 8 US President Donald Trump and Elon Musk (R) speak before departing the White House two months ago Credit: AFP It comes just days after his billionaire son's high-profile alliance with the US President imploded in a fierce online feud . Musk Snr took part in the Tsargrad propaganda forum where he bizarrely declared Moscow the "best capital" in the world. Marking his first time in Russia, Errol said: "I think the image that people give to us in the West of Russia is completely wrong. "Russia is wonderful, it's absolutely amazing. He added how it was "quite clear" that Moscow was better than any other city across the globe. Not only did the South African businessman praise Russia however, but also its mad leader Putin and, in turn, challenged the West's portrayal of him and his country. Errol said: "I think [Putin] is a very impressive man - he's proved that. A very stable, impressive man. "As for the perception of Russia, it's very wrong." Most read in The US Sun He added: "So the perception in America by the media, I will call it the fake media, is that Russia is a bad place and its full of very bad people, and they're all going to kill you to come here, which is complete nonsense." He explained how he was coming to Russia with his daughter Alexandra - but his sons told her that she musn't go "under any circumstances". And after Errol himself claims to have been given warnings on going to Moscow, he said he "arrived here, and the first thing I saw was a perfect total civilisation in every direction." He added: "I see a city that easily rivals ancient Rome. "And probably, I made a comment to somebody earlier, it's by far not by a little but by far the premier capital city in the world." Errol also discussed his estranged Tesla tycoon son Elon and his astronautics exploration company SpaceX - but credited Russia as originally being the "leader" of space engineering before his son "took over". He said it "all started off with the Russian attempts" which he said were "quite amazing". Just a day ago, speaking of the explosive feud between Elon and US President Trump, from his turbulent stint in Washington . He said: 'So at the moment, Elon is inclined to say that he's made a mistake.' 'Trump will prevail. He's the president, he was elected as the president. 'Elon made a mistake, I think, but he's tired, he's stressed. 8 Errol is currently in Moscow to appear at a Kremlin-backed forum 8 Russia's President Vladimir Putin chairs a meeting on Russia's language policy at the Novo-Ogaryovo state residence Credit: AFP 8 Elon Musk and Donald Trump's bromance is now beyond repair 8 Elon Musk, wearing two hats, speaks during a cabinet meeting in the Cabinet Room of the White House Credit: AFP 8 "They are all suffering from a bit of PTSD, a post-traumatic stress disorder over the last few months, they started hitting out at each other. 'And then in the end, it's just him and Trump left… They still don't know what to do, so they fight with each other until they can come to normal conditions.' And in response to a question from a Russian propaganda publication on how to "raise a genius," Errol said that a child needed to be "spanked a lot". Errol's ex-wife and Elon's mum Maye accused him of beating her during their marriage. She also once revealed that Elon tried to stand up for her during one of the beatings as a child. Errol has always denied being abusive to his ex-wife. Errol will speak at the Future Forum 2050, organised by Malofeev and Putin ideologist and 'philosopher' Alexander Dugin. Meanwhile, Russia appears eager to capitalize on Musk's estrangement from the US political elite. Putin crony Dmitry Medvedev cheekily offered to mediate peace talks between 'D and E' — Trump and Elon— 'for a reasonable fee and to accept Starlink shares as payment.' Another Kremlin loyalist, ex-space chief Dmitry Rogozin, publicly offered Musk asylum. 'You are respected in Russia. If you encounter insurmountable problems in the US, come to us and become one of us,' Rogozin wrote. Russia would offer him 'reliable comrades and complete freedom of technical creativity'. TRUMP FALLOUT The world's richest man Musk — who reportedly donated $288 million to Trump's 2024 campaign and briefly served as a White House aide — has now turned on the president over his sweeping tax and spending bill. Elon even claimed on X that Trump was tied to disgraced paedophile Jeffrey Epstein, Their bromance is now beyond repair. Read more on the Irish Sun On Sunday, Trump confirmed to NBC that he has no interest in making amends: 'I would assume so, yeah,' he said when asked if their relationship was over. 'I have no intention of speaking to him.' The former allies have been - throwing . What is Elon & Errol's relationship? By Annabel Bate, Foreign News Reporter ERROL Musk and his son Elon have a very turbulent relationship, characterised by estrangement. Elon has describd his dad as a "terrible human being" and "evil" in the past. Meanwhile Errol has called his Tesla tycoon son a "spoilt child". Errol's ex-wife and Elon Musk's mum Maye accused him of beating her during their marriage. She also once revealed that Elon tried to stand up for her during one of the beatings as a child. Errol has always denied being abusive to his ex-wife. After his parents divorced, Elon initially went to live with his mother in Canada. But he was sent back to South Africa to live with Errol just a year later. Errol said the split had a big impact on Elon's mental state at the time. He was very unsure of himself," the 77-year-old said. "Until he was 12 he slept with me in the main bedroom on my big double bed. "He had his own room but I never told him to go to his room." Although there were struggles, the Musks were never short on money during Elon's youth. "It was a privileged world," said Errol, who was the part owner of an emerald mine.
