Tesla stock rose early Thursday following the company’s second-quarter delivery report. The reaction to deliveries demonstrates that car sales still matter to the company, despite CEO Elon Musk’s increased focus on robo-taxis.

Tesla stock sunk as much as 8% after President Donald Trump fired a new shot at Elon Musk. Trump said Musk had government subsidies than "any human being in history" in a post on Truth Social. The pair's feud was reignited by more criticism from Musk over Trump's tax bill.

Tesla stocks have also been negatively impacted by the feud between Trump and Musk. At press time, Tesla stock (TSLA) has been down by over 5.72% in pre-market trading. The company's stock dropped sharply to $296.01, marking a three-week low as of July 1.