The drop comes as shares of the EV maker saw a 22% rally in May with Musk wrapping his time as Trump's Department of Government Efficiency, or DOGE.

Musk has called to “kill” Trump’s policy bill, criticizing the legislation as “massive, outrageous” and “pork-filled.”

Tesla stock plummets over 5% following Elon Musk's harsh criticism of President Trump’s tax bill, igniting concerns over the fallout between the two business figures and its impact on Tesla's business operations.