Elon Musk reportedly called President Donald Trump days before tweeting his regret of their escalating feud. In this file photo, Musk, left, and Trump attend a campaign event at the Butler Farm Show, Oct. 5, 2024, in Butler, Pa. (AP Photo/Alex Brandon, File) AP

Elon Musk is walking back a series of critical posts about President Donald Trump, admitting some of his tweets “went too far” after sparking viral backlash.

Tesla ( TSLA 5.66%) stock has tumbled 22% year to date amid a myriad of business and political headwinds, and Wall Street anticipates further declines. The average target price among 55 analysts is $289 per share, which implies 8% downside from the current share price of $316.

"The easiest way to save money in our Budget … is to terminate Elon's Governmental Subsidies and Contracts," Trump said in a post.

The partnership crystallised in mid-2024, after an assassination attempt on Trump led Musk to shift from critic to donor. He poured nearly $300 million into the Republican war chest, joined the cabinet as head of the meme-friendly Department of Government Efficiency (DOGE),

Shares of Elon Musk’s electric vehicle maker fell sharply Thursday as investors fear his dispute with President Donald Trump could end up hurting the company.

The legal battle comes after Elon Musk’s support for European far-right parties, support for Donald Trump, and his activities since he entered the political arena. View on euronews