✎ Contributed by Ty Griffin
Elon Musk openly criticized President Donald Trump’s proposed “Big Beautiful Bill,” targeting what he called excessive corporate handouts and distorted market incentives. The comments, posted to X, signal growing friction between the Tesla CEO and the administration just as the White House pushes its sweeping economic agenda through Capitol Hill.
Performance of Key Stocks
- Tesla Inc. (NASDAQ: TSLA): Trading at $362.72, down $0.17 (0.047%) today.
- Rivian Automotive Inc. (NASDAQ: RIVN): Trading at $15.58, up $0.22 (1.40%) today.
- Lucid Group Inc. (NASDAQ: LCID): Trading at $2.67, up $0.029 (1.10%) today.
- Ford Motor Co. (NYSE: F): Trading at $10.18, down $0.13 (1.26%) today.
- General Motors Co. (NYSE: GM): Trading at $48.35, down $0.75 (1.52%) today.
Industry Impact
While Musk’s remarks rattled policy watchers, the market reaction among EV and legacy automakers was mixed. Tesla held mostly flat, while newer EV entrants like Rivian and Lucid posted modest gains. Traditional automakers Ford and GM slipped, potentially reflecting concerns over long-term policy direction tied to federal spending and clean energy mandates.
Analysts noted that while the rift isn’t likely to affect immediate sector performance, it could influence the tone of regulatory and subsidy negotiations heading into the next fiscal cycle.
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