Tesla’s stock is driven by sentiment, which has soured greatly. Plus, Musk has now alienated Republicans and Democrats alike.

Tesla (NASDAQ: TSLA) massively defied expectations in the past few weeks. The stock surged despite a Q1 earnings report that was dismal, and continued gaining as Musk made promises about robotaxis and Optimus robots.

Tesla shares recouped some losses that had been triggered by a spat between CEO Elon Musk and U.S. President Donald Trump, even though a truce appeared uncertain on Friday as a White House official said the president was not keen on talking to his former ally.