Tesla (NASDAQ: TSLA) massively defied expectations in the past few weeks. The stock surged despite a Q1 earnings report that was dismal, and continued gaining as Musk made promises about robotaxis and Optimus robots.

Tesla stock extended declines from earlier in the week as Trump and Musk traded words over the GOP budget bill, which Musk has described as an "abomination."

Tesla shares recouped some losses that had been triggered by a spat between CEO Elon Musk and U.S. President Donald Trump, even though a truce appeared uncertain on Friday as a White House official said the president was not keen on talking to his former ally.