Tesla Nosedives In Premarket As Trump Suggests DOGE Should Probe Subsidies For Musk's Firms

Core Viewpoint - Tesla's shares experienced a decline of over 5% in premarket trading due to renewed tensions between President Trump and Elon Musk, with Trump suggesting that government subsidies for Musk's companies should be scrutinized [1][5]. Group 1: Stock Performance - Tesla's stock price briefly fell below $300, settling at approximately $301.10, down 5.2% early Tuesday [2]. - Since the public feud began last month, Tesla's shares have decreased by more than 9.2% [2]. - The shares had previously dropped below $285 last month during the initial public exchanges of criticism between Musk and Trump [3]. Group 2: Key Events and Reactions - The decline in Tesla's shares followed Trump's response to Musk's criticism of his budget bill and Musk's threat to fund primary challenges against GOP members supporting the bill [5]. - Musk criticized the spending bill on his X platform, stating that if it passed, a new political party would be formed [5]. - Trump retaliated by suggesting that without federal subsidies, Musk's companies might need to shut down, implying significant savings could be achieved by eliminating these subsidies [5]. Group 3: Financial Implications - Elon Musk's net worth is estimated at $406.5 billion, making him the world's richest person, but this figure is likely to decrease if the premarket dip in Tesla's shares persists [4].