Tesla Stock Reacts to Musk's Trump Apology; Robotaxi Launch Targeted
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Tesla (TSLA) stock experienced a volatile trading day on Wednesday after CEO Elon Musk expressed regret over his recent criticisms of President Trump. The move followed a period of significant market turbulence for Tesla, with over $150 billion wiped off its market capitalization amidst the public dispute.
Musk's Apology and Market Rebound
"I regret some of my posts about President Trump last week," Musk posted on X, his social media platform. "They went too far." This statement marked a significant shift in tone after Musk's previous strong condemnation of Trump's spending bill. The apology seemed to soothe investors, with Tesla shares initially climbing over 2% in early trading before settling to a marginal gain by the close of the day.
President Trump also appeared to de-escalate the situation, stating he would be open to speaking with Musk. This potential for reconciliation has further calmed market anxieties surrounding the political risks now associated with Tesla due to its CEO's outspokenness.
Robotaxi Launch Date Set for June 22
Adding to the positive momentum, Musk announced an updated timeline for Tesla's highly anticipated robotaxi program. He stated that the first public rides in Tesla robotaxis are targeted to begin on June 22. Furthermore, Musk envisions a Tesla driving itself from the factory to a customer's home by June 28.
Tesla's initial launch date was June 12, but Musk cited heightened safety concerns as the reason for the delay. "[We are being] super paranoid" about safety, he explained, leaving open the possibility of further adjustments. Reports on X have also confirmed that Tesla's robotaxis are already undergoing preliminary testing in Austin.
Abrego Garcia Case Update
Separately, in legal news, defense lawyers for Kilmar Armando Abrego Garcia, a Salvadoran immigrant wrongfully deported and later brought back to the U.S., are seeking his pretrial release. They argue that the U.S. government illegally detained and deported Abrego Garcia to a violent prison in El Salvador without due process.
The lawyers are challenging the charges filed against Abrego Garcia, emphasizing the government's prior actions. A hearing is scheduled before Judge Waverly D. Crenshaw Jr. to determine whether Abrego Garcia will be detained before his trial.