Shares of three charging companies are down an average of about 40% since the election, while the electric-vehicle maker’s stock has surged 68%.

Tesla Inc.’s stock shed early gains Tuesday that came on expectations that Chief Executive Elon Musk’s close relationship with the new administration will help the electric-vehicle maker, with sentiment further buoyed by a bullish note from Piper Sandler.

Shares of Tesla Inc. slumped Tuesday alongside other electric-vehicle makers, while space company stocks saw big gains, after President Donald Trump announced a series of policies that could have wide-ranging impacts on markets.

Tesla stock jumped on the first trading day since the inauguration of now-president Donald Trump. Shares climbed despite Trump signing an executive order Monday aimed at reversing the prior administration’s electric vehicle policies.

The Detroit automakers’ shares are rising Tuesday while their fully-electric rivals saw their stocks fall as President Donald Trump began tearing into his predecessor’s pro-EV moves.