Tesla shares rebounded 5% after rough start, fueled by Elon Musk potentially stepping back

From Nasdaq: 2025-04-02 15:09:00

Tesla’s shares rebounded 5% after a rough start, fueled by reports that CEO Elon Musk may step back from government affairs. First-quarter deliveries fell below expectations, with a 13% year-over-year decline.

Musk’s involvement with DOGE and Tesla’s declining sales are causing concern. Reports suggest Musk may leave DOGE, sparking optimism in the market. Investors hope this move will refocus Musk on Tesla’s struggling stock.

Musk’s potential departure could benefit Tesla, as he juggles multiple roles. Tesla faces competition and upcoming challenges, including launching self-driving technology. Despite high stock valuation, redirecting Musk’s focus to Tesla could be positive.

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Read more at Nasdaq: Why Shares of Tesla Bobbed and Weaved Today: Is the Stock Back on Track?