President Donald Trump took a break from his bitter public feud with Elon Musk by offering support to Tesla in an early morning post on Truth Social.

Trump is looking to set the record straight on his stance on Elon Musk's companies. The president said he wanted Elon's businesses to "thrive."

Musk's electric vehicle maker posted the worst quarterly sales decline in more than a decade and profit that missed Wall Street targets, but its profit margin on making cars was better than many feared.

Tesla's profit slid 16% in the second quarter, it said Wednesday. CEO Elon Musk will face investors in the company's earnings call at 4:30 p.m. CT.

The fallout from Elon Musk’s plunge into politics a year ago is still hammering his Tesla business as both sales and profits fell sharply again in the latest quarter.

Nelson downgraded the company’s stock to a neutral rating in April. But even some of the Tesla bulls on Wall Street are saying that the time for Musk to take action is running out.

The Tesla CEO said the company expects to expand their autonomous driver service to include customer-owned cars.

Tesla's market cap fell below $1 trillion, but it still reflects investors' assumptions of enormous future growth.