Elon Musk’s Tesla saw its stock tank as much as 17% on Thursday as he feuds with President Donald Trump.

Musk has been fighting with Trump since his departure from the administration over the “big, beautiful bill” and escalated the fight after the president hinted the government should terminate “Elon’s Governmental Subsidies and Contracts.”

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“The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts, Trump wrote on Truth Social. “I was always surprised that Biden didn’t do it!”

“Elon was ‘wearing thin,’ | 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!” he added.

Tesla stock rebounded to around 14% in the following hours. The stock is down about 30% year-to-date, with Musk’s political affiliation with Trump weighing it down in previous months. Consumers had boycotted purchasing the vehicles and vandalism of Teslas had become more frequent.

The administration had previously defended Musk’s Tesla business, with Attorney General Pam Bondi labeling crimes against Teslas and Tesla property domestic terrorism.

“The days of committing crimes without consequence have ended,” Bondi said. “Let this be a warning: if you join this wave of domestic terrorism against Tesla properties, the Department of Justice will put you behind bars.”

Now Democrats are watching and wondering if Musk should join their side.

We should ultimately be trying to convince him that the Democratic Party has more of the values that he agrees with,” Rep. Ro Khanna (D-CA) said. “A commitment to science funding, a commitment to clean technology, a commitment to seeing international students like him.”