Tesla shares rebound amid broader market surge as Musk versus Trump spat pauses

Tesla's shares have fallen 16% since CEO Elon Musk began bashing President Donald Trump's spending bill on May 27, and the stock remains about 33% lower since Inauguration Day.

One day after seeing their largest-ever one-day drop, Tesla shares recovered some losses Friday as the spat between CEO Elon Musk and President Donald Trump that exploded into public view Thursday took appeared to take a breather heading into the weekend.

Shares in the electronic vehicle maker gained as much as 5% amid broader market gains following a report showing the U.S. added more jobs in May than forecast.

Even with Friday's rally, Tesla shares are still down approximately 21% in 2025 — a decline that accelerated last week following Musk's departure from the Trump administration.

Musk, the world's richest person and until recently Trump's cost-cutter-in-chief, said last week he was leaving as the head of his Department of Government Efficiency project to refocus on his businesses.

Those companies — Tesla, the satellite and space-launch company SpaceX, the social media platform X and the brain tech startup Neuralink — have faced growing criticism as Musk oversaw deep cuts to the federal workforce. Tesla sales around the world have fallen sharply this year.