By Admin 
Tesla shares: The shares of Electric vehicle manufacturer Tesla rose up to 6-7 percent on Friday, while on Thursday, there was a huge decline in its shares by 14 percent due to a dispute between the company’s CEO Elon Musk with US President Donald Trump. This led to a loss of $ 152 billion in the company’s market cap.
916 billion dollars from $ 1 trillion
On Thursday, Tesla shares fell 14.26 percent to close at $ 284.70. Due to this, the market cap of the company has also come down from $ 1 trillion to $ 916 billion. However, even after this decline, Tesla remains at the position of the 10th largest company in the world according to the market cap.
Musk’s net worth reduced by $ 34 billion
It is clear that the dispute with Trump can be overshadowed by Tesla. With the decline of just one day, his assets have reduced $ 34 billion. However, despite this, he remains the world’s richest man in the Bloomberg Billionaires index with $ 335 billion.
The reason for Tesla’s shares bounce
Here, despite the softening and trump-packed controversy in the EV market, Analysts believe that its value is not going to decrease. This has also raised confidence in investors in Tesla’s shares. Now investors will be eyeing Tesla’s Q2 delivery data, which are coming in July. Apart from this, Trump and Musk’s relationship is also expected to improve.
According to the report by news agency Reuters, Tesla’s shareholder and analyst Matthew Britadman at Haragravs Lansdowne say that everything will be alright between the two, if it is worked with cold mind.
Also read:
When two Jigri friends became enemies: Trump’s displeasure was heavy on Musk, loss of 15200 crores in a day