Will There be a Big Trump Tesla Meeting?
President-elect Donald Trump is looking to have a meeting of the minds with some of the biggest noggins in business. From Tim Cook to Larry Page to Jeff Bezos, some of the heaviest hitters in tech are expected to attend the summit next Wednesday in New York. Much of the groundwork is said to have been done by Trump confidante and tech billionaire Peter Thiel.
But one name in particular, Elon Musk, has been in the news for potentially being unable to attend the event, adding another wrinkle to the Trump Tesla Motors Inc (NASDAQ:TESLA) divide. This could have an impact on Tesla stock.
Several news organizations have reported either that Musk is certainly going to attend, or that scheduling conflicts may prevent him doing so. In either case, there’s a lot that the Trump Tesla relationship needs to get sorted. (Source: “Top Tech Leaders to Meet With Trump,” The Wall Street Journal, December 12, 2016.)
For instance, the Trump Tesla relationship has a long way to go on both electric vehicle (EV) subsidies and clean energy tax incentives. Both can have pretty powerful impacts on the future sales of Tesla products. Looking beyond the Trump Tesla dynamic, there’s SpaceX‘s various government contracts that could fall in the crosshairs of a presidential Twitter rant if the company is not careful (or even if it is). (Source: “Elon Musk might attend Trump’s tech summit — here’s what he should talk about,” Business Insider, December 12, 2016.)
Looking beyond the Trump Tesla news, the summit will be interesting in that a number of the tech bigwigs attending were staunch supporters of the Hillary Clinton campaign. This potentially injects a dose of tension at the onset of the meeting. It’s not as if the president-elect is known as being a magnanimous grudge-forgoing, thick-skinned compromiser.
In any event, Musk or no Musk, the summit will be an important opportunity for the techies and Trump to hash out their differences or, barring that, at the very least air grievances. We will be tuned in to see what concrete developments arise following the meetup, and what this means for Tesla stock.