I'll continue to advocate for lower tariffs rather than higher tariffs, but that's all I can do,” Musk said about Trump’s tariffs.

The EV company’s investors want reassurance on sales and future projects such as robotaxis and a cheaper vehicle as the stock drops 6% ahead of earnings.

Cathie Wood thinks Tesla stock can rise 10-fold during the next five years. The company is struggling to sell cars at the moment and has no new commercially viable products on the horizon. Investors would be wise to stay away from the stock due to its high price-to-earnings ratio.