The shares of Tesla Inc. (NASDAQ:TSLA) climbed 4.98% during the Friday pre-market trading session after indications of a possible reconciliation between CEO Elon Musk and President Donald Trump.

What Happened: On Thursday, Tesla’s market cap plummeted by a record $152 billion, marking the company’s largest market cap loss in history. This decline was attributed to an intensified conflict between Musk and Trump over the latter’s “Big Beautiful Bill.”

In a subsequent interview with Politico, Trump hinted at a potential reconciliation with Musk, and the White House reportedly initiated efforts to de-escalate the situation.

Meanwhile, Dan Ives, a prominent Wall Street analyst, believes that the ongoing feud between Musk and Trump will soon come to an end, allowing Musk to refocus on Tesla and its autonomous driving ambitions. Through a post on X, he also suggested that Tesla’s stock is currently oversold.

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This development, coupled with Ives’ optimistic outlook, could signal a potential recovery for Tesla’s stock in the near future.

Benzinga Edge Stock Rankings shows that Tesla had a strong price trend over the short, medium and long term. Its momentum ranking was moderate at the 92nd percentile, whereas its value ranking was poor at the 9th percentile; the details of other metrics are available here.

• SEE MORE: Jeff Bezos Let Customers Cancel Their Own Amazon Orders And It Paid Off Big: ‘If You Give People More Control…Maybe They’ll Order More’

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.