What Happened? Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 3.5% in the afternoon session after tension between CEO Elon Musk and President Donald Trump continued to cool off. This de-escalation was likely a major relief for investors who had been worried about the potential negative impacts on Tesla's business,

Tesla’s stock was recently right around the price at which it closed the session before a spat between CEO Elon Musk and President Donald Trump culminated in a one-day drop of about $150 billion in Tesla’s market value.

Tesla (NASDAQ: TSLA) has been trading like a penny stock so far this year. The most recent drama was due to a public feud between CEO Elon Musk and President Donald Trump. It wiped out about $150 billion of market value last week, but Musk’s apology post on X early Wednesday boosted a relief rally.