Why did TSLA move on Jun 5, 2025?

Tesla's stock plummeted 12% on June 5, 2025, due to a highly publicized and escalating social media feud between CEO Elon Musk and U.S. President Donald Trump. The public fallout began after Musk criticized the administration's $1.6 trillion tax-and-spending budget bill, prompting Trump to threaten to cut government subsidies and contracts for Tesla and SpaceX. Investors aggressively sold off the stock as they priced out the potential regulatory and financial benefits Tesla was expected to receive from Musk's close political ties to the administration.