Tesla Chief Executive Elon Musk confirmed late Sunday he will be interviewing former President Donald Trump in a live online conversation on X Monday night. The stocks tied to the two men, Tesla stock and Truth Social-parent Trump Media & Technology, both fell during Monday's market trade.
Musk wrote on X, formerly Twitter, Sunday that the Trump interview would be at 8 p.m. ET. The Tesla head added that the conversation "is unscripted with no limits on subject matter, so should be highly entertaining!"
Musk also on Sunday solicited public questions and comments for the former president. Ahead of the interview, Trump posted multiples times on X Monday, marking his first official time on the platform since Aug. 23, 2023, when he posted a copy of his mug shot accompanied with a link to his reelection campaign website.
DJT stock dropped 5% to 24.88 during market action on Monday, amid news of the X interview and the company's report late Friday of another quarter of sub-$1 million revenue. The Trump stock tumbled 10.3% last week, nearing the lowest levels since Trump Media went public.
DJT's retreat over the past few weeks could be reflecting Trump's declining campaign fortunes. Shares hit a short-term high of 46.27 on July 15 following the Trump assassination attempt. Trump's lead in the polls peaked soon after, with President Joe Biden dropping out of the 2024 race.
The Donald Trump brand and the value of DJT stock are closely related, as Truth Social launched after then-Twitter shut down Trump's account following the Jan. 6, 2021, riot at the U.S. Capitol. Trump has sworn he will not return to X and will remain on Truth Social.
The former president holds a 65% stake in Trump Media, worth around $3 billion based on the current stock price.
Can Donald Trump Interview Affect Elon Musk And Tesla Stock?
It's unclear if the Monday interview will have any impact on Tesla stock. In the past there has been analyst speculation that Musk's political statements have had some impact on the Tesla brand and its stock value.
In the aftermath of the attempt to assassinate Trump in July, the former president received several high-profile endorsements from the investing and business community, including from Musk and Bill Ackman.
On the first trading day, July 15, following Musk's Trump endorsement, Tesla stock gained 1.8%.
Tesla fell 1.3% to 197.49. Last week, TSLA dropped 3.7%. Since hitting a 2024 high of 271 on July 11, Tesla stock has fallen 28% and is currently meeting resistance at its 200-day moving average.
It's also possible the conversation Monday could include a discussion about Trump's electric vehicle policies. Trump has advocated eliminating EV subsidies and mandates, as well as encouraging China EV makers such as Tesla rival BYD to set up factories in the U.S.
Tesla stock ranks third in the 35-member IBD Auto Manufacturers industry group. The stock has a 56 Composite Rating out of a best-possible 99. Shares have a 52 Relative Strength Rating and a 58 EPS Rating.
Please follow Kit Norton on X @KitNorton for more coverage.
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