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Tesla shares tumble after Trump says DOGE should look at Elon Musk's subsidies
CNBC· 2025-07-01 11:48
Core Points - Tesla shares faced pressure following President Trump's suggestion to investigate cutting subsidies for Elon Musk's companies [1][2] - Trump claimed that Musk may receive more subsidies than any individual in history, implying that without these subsidies, Musk's ventures could cease operations [2] - Tesla's stock dropped over 5% in premarket trading, indicating investor concern over the potential impact of subsidy cuts on Musk's companies, including SpaceX and Starlink, which rely heavily on government support [3]