The Tesla stock recovered reasonably well on Friday with a gain of about 6 percent on the stock exchanges in New York, after the price drop a day earlier. Investors are hoping for a successful reconciliation attempt between Donald Trump and Tesla CEO Elon Musk.
Tesla lost 14 percent on Thursday evening. The price drop corresponds to more than 100 billion dollars (87 billion euros) in market value after the escalating feud between the American president and his former advisor.
Musk strongly criticized Trump’s tax plan on Thursday and called for him to be deposed. Trump then threatened to terminate government contracts with Musk’s companies.
That was another setback for Tesla. In April, the company sold half as many electric cars in Europe compared to a year earlier. Analysts attribute this decline to the previously close cooperation between Trump and Musk.
