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."

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.

Tesla revenue dropped 12%, and profits slumped 16% in the three months through June as buyers continued to steer clear, and in some cases, turn to more affordable competitors' offerings.

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.

Elon Musk rejected a peace offering from Donald Trump after the president revealed he was not planning to “destroy” the Tesla CEO’s empire. In the midst of an on-again, off-again, explosive public feud that culminated in Musk dropping the bomb that “Donald Trump is in the Epstein files,