Tesla stock is in freefall amid the fallout between the company CEO Elon Musk and US President Donald Trump, with the White House floating cutting Government contracts to Musk's companies.
Shares of Tesla plummeted 14 per cent today as the duo fought on social media over the Republican spending bill making its way through US Congress.
On Truth Social, the President stated: "Elon was 'wearing thin,' I asked him to leave, I took away his EV Mandate that forced everyone to buy electric cars that nobody else wanted (that he knew for months I was going to do!), and he just went crazy."
This latest fall in shares comes after the EV maker saw a 22 per cent rally last month despite weak sales numbers, which coincided with Musk leaving the Department of Government Efficiency (DOGE).
Trump and Musk are falling out, impacting Tesla shares
GETTY / GOOGLE
This week, shares in Tesla are down 17 per cent as Musk has continued his criticism of the White House's Budget bill.
For the year, shares are down more than 25 per cent and far below the $488.54 reached on December 18, following Trump's election win.
Some analysts have blamed Elon Musk's political involvement for slumping Tesla sales in recent months REUTERS/GETTY