SpaceX and Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk flexed the company's rockets amid a war of words with President Donald Trump on Sunday.
What Happened: On Sunday, Musk took to X, formerly Twitter and said, "Whatever happens, we have got the spaceships, and they do not."
Notably, Musk’s comments came after the tech mogul conducted a poll on X, where he asked his over 220 million followers about forming a new political party in the U.S. An overwhelming 80.4% responded in favor.
Responding to Musk's post, Rep. Thomas Massie (R-Ky.) replied, "I don't know if I'm part of ';we' but I would like to formally disassociate myself from the group herein referred to as ';they.'"
Musk quickly said, "You're definitely not ';they' and are welcome to be part of ';we'," to which Massie responded with, “Count me in."
See Also: Cathie Wood Praises Elon Musk, Says He Is ‘The Thomas Edison Of Our Age’, Names Tesla As Her No. 1 Stock Pick For The Long Term
Why It’s Important: On Friday, the Tesla CEO floated a possible name, "The America Party," following the poll results.
The rift between Musk and Trump could have serious implications for Musk's companies, including Tesla and SpaceX, the billionaire's space technology company, particularly if threats to revoke federal contracts and subsidies are carried out.
Tesla’s market capitalization dropped by a record $152 billion, knocking the company out of the $1 trillion club following Musk's public criticism of Trump's “Big Beautiful Bill.”
Adding to the pressure, former White House official Steven Bannon has called for a federal investigation into Musk's immigration status, even suggesting that the South African-born U.S. citizen should be deported.
He also called on Trump to seize control of SpaceX. He said that he is not asking for the nationalization of SpaceX, but the administration should make sure that the company is not spearheaded by someone who has drug issues.
Over the weekend, it was reported that two White House officials have confirmed that the public dispute between Trump and Musk has been temporarily paused.
Price Action: Tesla shares have declined by 14.11% over the past five days, based on data from Benzinga Pro.
According to Benzinga's Edge Stock Rankings, while the stock is experiencing short and medium-term downward trends, its long-term prospects are still viewed as favorable. For more in-depth metrics, click here.
Photo Courtesy: RKY Photo on Shutterstock.com
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
