Tesla shares clawed back from steep losses as a war of words between CEO Elon Musk and President Donald Trump appeared to cool, easing investor worries about the likely political fallout on the electric automaker.
Shares rose about 5 percent in early trading. Politico had reported Musk and Trump were expected to speak on Friday, but a White House official told Reuters there were no plans for a call.
Musk signaled on his X social media platform he was open to easing tensions with Trump, agreeing with comments from hedge fund manager Bill Ackman calling for a detente.
The spat between the world’s most powerful man and its richest erased more than $150 billion from Tesla’s market value on Thursday, the company’s biggest drop in one session….