Remember when Trump and Musk were barely on speaking terms? Those days appear to be over. President Donald Trump told reporters at a White House press briefing that he and Tesla Inc. (TSLA) CEO Elon Musk are back in each other's good graces following their very public falling out earlier this year.

The Election Endorsement Still Matters

When asked about his relationship with the Tesla chief, Trump didn't mince words. "I like Elon a lot; he really helped during the election with his endorsement," Trump said. That's a far cry from the frosty vibes when Musk was notably absent from Trump's Rose Garden event featuring tech heavyweights like OpenAI's Sam Altman and Meta Platforms Inc. (META) CEO Mark Zuckerberg.

Trump did acknowledge the elephant in the room, though. "I didn't wanna have… everybody had to have an electric car, and he makes electric cars," the president said, pointing to their fundamental policy disagreement. But he quickly added reassurance: "We get along well."

The thaw in their relationship became visible when Musk received an invitation to the White House Correspondents' dinner recently. This marked a significant shift from the tensions that erupted after Trump rolled back policies favorable to electric vehicles, including the elimination of the $7,500 Federal EV Credit that had been a cornerstone of Tesla's business model.

Meanwhile, Tesla's Sales Numbers Tell a Tougher Story

While Trump and Musk are patching things up personally, Tesla's business challenges persist. The company recorded a nearly 50% drop in vehicle registrations across Europe during October, a concerning trend spanning multiple regions on the continent.

Adding to the pile-on, investor Michael Burry of "The Big Short" fame recently took aim at Tesla, calling it "ridiculously overvalued." He went further, attacking Tesla supporters and labeling them the "Elon cult." Despite the harsh words, Burry clarified he doesn't have a short position against the EV maker's stock, so at least there's that.

Price Action: TSLA slipped 0.21% to $429.24 at market close, further declining 0.32% to $427.85 in after-hours trading, according to market data.