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 has taken steps to restore his relationship with President Trump and surrender, saying he regrets some of his comments during their feud.

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.

Musk’s rare public expression of regret suggests he is trying to defuse tensions after Trump threatened to retaliate against his companies during their feud.