The EV manufacturer faces slowing sales, political backlash and mounting competition as Elon Musk refocuses on the company's future

The fallout from Elon Musk’s plunge into politics a year ago is still hammering his Tesla business as both sales and profits dropped sharply again in the latest quarter.

Tesla Inc. (NASDAQ: TSLA) may be only one part of Elon Musk’s company portfolio, but a bad day for the electric vehicle (EV) leader is enough to bring his net worth down. Tesla announced poor second-quarter earnings,

He said his ownership stake is "a major concern," noting he hoped the Tesla board addresses the issue at its annual shareholder meeting in November.

President Donald Trump took a break from his bitter public feud with Elon Musk by offering support to Tesla in an early morning post on Truth Social.

The fallout from Elon Musk's plunge into politics a year ago is still hammering his Tesla business as both sales and profits dropped sharply again in the latest quarter.

Tesla's share price closed Thursday's session following the announcement of its June quarter results 8.20% lower at $305.30. Following the sharp selloff yesterday, Tesla's market capitalisation also declined $984.

Tesla CEO Elon Musk didn't appear to like Wedbush analyst Dan Ives' suggestion that the company should rein in Musk's time spent on politics.

Elon Musk’s Optimus robots greeted hungry fans as the mogul’s long-awaited Tesla Diner finally opened its “retro-futuristic” doors along the famed Hollywood strip. The all-night drive-in offers “80 V4 Supercharger stalls” and two giant entertainment screens — where Tesla’s humanoid Optimus robots handed out popcorn to customers who showed up for Monday’s debut.