$Tesla(TSLA.US) now up +15% (vs NDX +2%) since last week’s extraordinary falling out between Elon and President Trump. Last night, Musk more or less posted an apology to Trump on X: “I regret some of my posts about President @realDonaldTrump last week. They went too far.”
This apology should formally repair the relationship, although we doubt the two will again become billionaire bros again. The apology should encourage Trump not to work against Elon when it comes to selling ZEV credits, or formulating a federal standard for autonomous vehicles rather than the current unwieldy state-by-state approach. Elon likely realized that Tesla needs help with new EV and autonomous regulations, especially with being able to mass produce the Cybercab, which is not street-legal under US regulations due to no steering wheel or gas/brake pedals. Year-to-date $Tesla(TSLA.US) (-19%) still badly lags $BYD Company(BYDDY.US) (+60%), $Uber Tech(UBER.US) (+43%), and the S&P 500 (+2%).
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