Tesla gains for a fourth day as Musk sets robotaxi date, Trump tensions cool

Tesla's shares experienced a notable increase for the fourth consecutive day, climbing approximately 2% on Wednesday and up over 12% for the week. This surge comes as tensions between CEO Elon Musk and former President Donald Trump appear to be easing. Investors are also feeling optimistic about Tesla's robotaxi initiative, following Musk's announcement of a tentative launch date in Austin, Texas, set for June 22. In a recent post on social media platform X, Musk shared that the first driverless robotaxi will make the journey from the factory to a customer's home on his birthday, June 28. In a surprising turn, Musk expressed regret for some of his recent comments about Trump, stating that they may have been excessive. This development follows a public dispute that had the potential to disrupt a close partnership, which included significant contributions to Trump's re-election campaign and Musk's involvement in budget cuts at the newly formed Department of Government Efficiency, referred to as DOGE. The feud was ignited by Musk's criticism of a Trump-supported tax and spending bill, which he labeled a "disgusting abomination" that would exacerbate the national deficit. This criticism led to a heated exchange on social media, with Trump suggesting the possibility of cutting government contracts with Musk's companies. As a result, Tesla faced its largest market cap drop to date, highlighting the impact of their turbulent relationship on the company’s performance.