Tesla (TSLA) shares dropped over 14% Thursday, falling for a second straight day, as a public spat between CEO Elon Musk and President Donald Trump escalated.

Thursday’s drop erased greater than $150 billion from Tesla’s market capitalization, and eliminated the corporate from the small group of public corporations value greater than $1 trillion.

Musk left his function in the Trump administration final week. He has since attacked the Trump-backed budget reconciliation bill at present working its means via Congress, calling it a «disgusting abomination,» and urging the Senate to «kill the bill.» Trump at an occasion with the Chancellor of Germany on Thursday stated he’s «very disenchanted» in Musk’s latest assaults.

Trump stated that Musk «knew every part» in regards to the invoice, and claimed that the Tesla CEO solely turned in opposition to the invoice due to the cuts it could make to electrical car mandates and applications.

«Elon and I had a fantastic relationship,» Trump stated. «I do not know if we’ll anymore.»

«No matter,» Musk stated in a submit responding to a video of Trump’s feedback. «Hold the EV/photo voltaic incentive cuts within the invoice, although no oil & fuel subsidies are touched (very unfair!!), however ditch the MOUNTAIN of DISGUSTING PORK within the invoice.»

In a separate submit, Musk referred to as Trump’s assertion that he knew particulars in regards to the invoice «false,» and stated that members of Congress didn’t learn it earlier than voting on it.

«With out me, Trump would have misplaced the election,» Musk posted minutes after.

Trump later referred to as Musk “CRAZY” and threatened to chop federal contracts with Musk’s corporations, in a sequence of posts on his Fact Social platform.

Tesla has additionally gotten extra disappointing sales news in latest days: Auto business teams in a number of European international locations reported gross sales information for Could displaying declines in Tesla gross sales as total EV gross sales rose. Regardless of the weak gross sales, some analysts have pointed to the anticipated launch of fully autonomous Tesla rides in Austin, Texas subsequent week as a coming optimistic catalyst for the inventory.

The inventory’s latest declines have rolled again a few of Tesla’s positive factors after Musk in April stated he would spend more time at his companies, and left the Trump administration in Could. It has misplaced practically a 3rd of its worth for the reason that begin of the yr.

This text has been up to date because it was first revealed to incorporate extra info and replicate more moderen share value values.