From Nasdaq: 2025-06-06 09:29:00

Elon Musk and Donald Trump’s once warm relationship has turned sour over Trump’s proposed budget bill. Musk called it an “abomination,” leading to a public feud. Tesla stock plummeted by 14%, losing over $150 billion in market value in a single day. Musk’s exit from DOGE hasn’t helped Tesla, as it faces challenges like declining EV sales and growing competition from BYD Co Ltd.

The fallout between Musk and Trump could jeopardize Tesla’s robotaxi ambitions and increase regulatory scrutiny. Tesla’s stock, already politically sensitive, may see increased volatility. With Musk and Trump at odds, Tesla’s road ahead looks rough. Investors are advised to sit this one out for now as Tesla faces challenging times and carries a Zacks Rank #5 (Strong Sell).

Zacks Investment Research has identified a top stock with the potential to double in the coming months. This innovative financial firm has a rapidly growing customer base and cutting-edge solutions, positioning it for significant gains. While not every elite pick is a winner, this stock could outperform previous Zacks’ Stocks Set to Double.

For more information on the top stock pick and other recommendations from Zacks Investment Research, visit their website. The views expressed in this article are those of the author and do not necessarily reflect those of Nasdaq, Inc.



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