Tesla’s stocks had been falling due to discouraging sales reports, but surprisingly began to rise after rumors that Elon Musk would leave his government position in a few months.
President Donald Trump is said to have made this comment to close associates, but the White House denied the information. Nonetheless, the company’s stock value rose by 5.3% on the same day, which could indicate that investors expect Musk to refocus on Tesla.
In recent months, the company’s shareholders have expressed dissatisfaction with the CEO, especially since he took on the role of the Department of Government Efficiency (DOGE). Criticism has emerged, such as an investor asking Musk to list five concrete actions for Tesla, mocking a DOGE email that demanded salary justifications from public employees. Furthermore, the company has faced protests and boycotts, reflecting the negative impact of Musk’s new role in the government.
As part of his work in the Trump administration, Musk has focused on budget cuts, mainly by canceling contracts and implementing mass layoffs in the public sector, which has caused widespread public dissatisfaction.
The recent rise in Tesla’s stock could suggest that investors believe Musk will return to prioritizing his business, stepping away from politics.
Source: Unilad | Photo: X @elonmusk @Tesla | This content was created with the help of AI and reviewed by the editorial team