Trump Snubs Musk. Tesla Stock Rises on Robo-Taxi News.

Tesla has hit a rough patch of road. The EV maker delivered about 721,000 cars in the first half of 2025, down roughly 13% year over year. (Brandon Bell/Getty Images)

Elon Musk isn’t headed back to the White House. That appears to be just fine for Tesla investors, who are also pleased with robo-taxi developments.

President Donald Trump will host several tech CEOs at a White House dinner on Thursday, including Meta Platforms CEO Mark Zuckerberg and Apple CEO Tim Cook, The Hill reported. Elon Musk is a tech CEO running Tesla, SpaceX, and AI start-up xAI?mod=article_inline), but he isn’t on the list.

Tesla investors don’t appear to mind. Shares of the electric-vehicle maker rose 1.3% on Thursday, closing at $338.53. The S&P 500 and Dow Jones Industrial Average each added 0.8%.

They are probably more focused on robo-taxis. Tesla recently opened up its self-driving taxi app to anyone. Tesla launched its robo-taxi service in Austin, Texas, on June 22 with a modest number of Model Y vehicles and a handful of Tesla-selected riders. Now the Tesla robo-taxi app is available in the Apple App Store for potential riders to download. The move is a small sign of progress for Tesla’s self-driving car ambitions.

As for Washington, investors would likely prefer Musk stay away for a while. Musk backed the president’s candidacy, eventually taking a controversial position in the Trump administration, helping run the Department of Government Efficiency, or DOGE, which was charged with helping eliminate fraud and waste in federal agencies.

DOGE’s actions rubbed some people the wrong way, and Musk’s political activities contributed to Tesla’s 2025 sales slowdown. The EV maker delivered about 721,000 cars in the first half of 2025, down roughly 13% year over year. Trump even hosted a sales event at the White House in March, buying a red Tesla, to try to help give sales a boost.

Musk eventually wrapped up his time at DOGE in May. Then Musk’s relationship with the president deteriorated over government spending plans. The feud included angry tweets and Musk’s idea to found a third political party in America.

All of the political intrigue caused extra volatility in Tesla stock, which investors rarely welcome. Shares traded as high as $488 in December 2024 and as low as $222 in April.

Other factors—including tariffs, earnings, and EV deliveries—impacted Tesla’s stock along the way. Still, investors were glad to see Musk leave Washington to focus more on his companies again.

Thursday’s move came after a wild day of trading on Wednesday. Shares traded as low as $328.51 and as high as $344.33. Shares settled at $334.09, up 1.4%, snapping a four-day losing streak.

Tesla stock is down about 16% in 2025, but up about 47% over the past 12 months.

Write to Al Root at allen.root@dowjones.com