Hundreds of protests at Tesla showrooms have also weighed on the company. Under the banner of a “Tesla Takedown,” opponents of Musk and Trump’s government policies have targeted the company to try to gain leverage over Musk, and demonstrators have continued to swarm Tesla locations, especially on weekends.

The treasurers of eight US states have written an open letter to Tesla Inc.’s board of directors questioning the direction of the company and the level of attention Elon Musk is paying to its mounting challenges.