Tesla shares rose 4.98% in pre-market trading Friday following reports of a possible reconciliation between CEO Elon Musk and President Donald Trump, according to Benzinga. The bounce came after Tesla lost $152 billion in market cap Thursday, its largest single-day drop, amid tensions over Trump’s “Big Beautiful Bill.” Trump hinted at making peace with Musk in a Politico interview, and the White House is reportedly working to de-escalate the feud. Analyst Dan Ives believes the conflict is nearing resolution and said Tesla stock is oversold, with potential upside tied to Musk’s renewed focus on autonomous tech. Elon Musk echoed this optimism in a response to Bill Ackman’s call for peace. Goldman Sachs trimmed its Tesla price target to $285 from $295, citing weaker global delivery data and a neutral outlook. Benzinga Edge ranks Tesla high in price momentum, but low in valuation metrics.
