Elon's days in the White House may be numbered
- Tesla shares rose 9% after Elon Musk announced he would reduce his political involvement, enhancing investor confidence in the company.
- Despite a 71% drop in earnings, analysts believe Musk's focus could help address major challenges for Tesla's brand and sales.
- Musk stated he would dedicate more time to Tesla starting next month, aiming to alleviate pressure on the company amid declining sales.
8 Articles
8 Articles
Elon's days in the White House may be numbered
Since Elon Musk‘s endorsement of President Trump last year, the CEO of SpaceX has spent more time in politics than worrying about his companies, including Tesla. With Tesla’s Q1 earnings out this week, Elon announced he would be stepping back from his time at the White House to focus on the company. more…
Tesla spikes 9% as investors cheer Musk's plan to step back from politics
Elon MuskANGELA WEISS / AFP via Getty ImagesTesla shares jumped as much as 9% on Wednesday after Elon Musk said he'll step back from politics.Investors have been waiting anxiously for Musk to refocus his attention on the firm.Musk's pivot from DOGE drove the stock higher despite dismal quarterly earnings.The move: Tesla stock jumped as much as 9% on Wednesday, to an intraday high of $259.44 per share. The electric-vehicle maker is down 36% year-…
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