What Happened? Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 3.5% in the afternoon session after tension between CEO Elon Musk and President Donald Trump continued to cool off. This de-escalation is likely a major relief for investors who had been worried about the potential negative impacts on Tesla's business,

Another concern has investors selling Tesla stock today. Musk has started very publicly splitting with President Trump and other Republicans over the spending bill making its way through Congress. That could have ramifications as Musk lobbies regulators for a federal approach to autonomous driving rules.

Shares of Tesla Inc. (NASDAQ: TSLA) are trading lower Monday as the company faces growing pressure from Chinese electric vehicle competitors, which posted strong delivery numbers for May.