For months, Tesla shareholders were tormented by Elon Musk’s role in the administration of President Donald Trump. But any relief brought by his formal government exit last week quickly turned to fear as the electric-vehicle maker’s chief executive traded barbs with his former boss.

Musk’s companies have significant ties to the federal government, even before the Trump administration.

“This has been like an aeroplane going through severe turbulence, with Musk unleashing all of his issues with the bill,” said Ron Bonjean, a Republican strategist.