Tesla stock traded higher early Wednesday as shares continue to recover from last week's sell-off with the feud between Elon Musk and President Trump cooling down.

Tesla ( TSLA 5.66%) stock has tumbled 22% year to date amid a myriad of business and political headwinds, and Wall Street anticipates further declines. The average target price among 55 analysts is $289 per share, which implies 8% downside from the current share price of $316.

Baird downgraded shares of Tesla from "Buy" to "Neutral," saying the Musk-Trump spat has led to more uncertainty and the potential for brand damage.

Tesla Inc dropped 14% in a single day yesterday, representing one of its most significant one-day falls in the past few years.

Tesla stock is highly volatile and some investors are worried about competition. Meta Platforms is the leader in social media and digital advertising, and both industries are in growth mode. Nvidia continues to report stellar growth and rising profits.

Tesla stock extended declines from earlier in the week as Trump and Musk traded words over the GOP budget bill, which Musk has described as an "abomination."

Tesla stock (TSLA) rose 2% pre-market as tensions ease between Musk and Trump. It closed 5.67% higher at $326.09.

Traders dumped Tesla after Musk quickly responded to Trump's criticism with social media posts that stepped up criticism of the president's tax bill.

Shares of Elon Musk’s electric vehicle maker fell sharply Thursday as investors fear his dispute with President Donald Trump could end up hurting the company.

Tesla share rose in early trade after plunging 14% Thursday following a harsh online exchange between Elon Musk and President Trump.

Tesla stock traded higher early Wednesday as shares continue to recover from last week's sell-off with the feud between Elon Musk and President Trump cooling down.

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