Tesla shares fell sharply after the company warned of a “rough” ride from Donald Trump’s policies, even as the US president said he wanted the group’s billionaire chief Elon Musk to “THRIVE”.
Shares in the electric vehicle maker fell 8 per cent on Thursday, extending their loss to 37 per cent from a peak in mid-December, a fall that has now wiped more than half a trillion dollars from its market value.
On Wednesday evening Tesla reported that second-quarter profit declined more than a fifth on slowing car sales. Musk said that Trump’s trade war and anti-EV and solar power policies would further hit the company’s earnings.
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