Tesla stock price today: Tesla shares rose by almost 5 percent on Wednesday after reports from his billionaire -CEO who left his role with the US government.
Tesla’s turnover fell by 13% in the first three months of the year, indicating that the company does not attract enough buyers.
At 1 o’clock Ist, the stock price of Tesla rose by 4.21 percent at $ 279.76. The stock price of Tesla initially fell more than 6 percent after a report that it delivered fewer electric vehicles in the first three months of the year than in the first quarter of last year.
Why do Tesla shares rise today?
The stock price of Tesla is rising today after Politico reported that Elon Musk, the CEO of the company, will take a step back from his role at the Department of Government Efficiency (Doge) – a stunt that he saw his declining involvement in the car driving company.
Elon Musk is more involved in his doge role and apparently was unable to concentrate on Tesla. His action at Doge also fueled worldwide protests, with demonstrators who set Tesla cars on fire and stormed Tesla showrooms.
Does Elon Musk resign from Doge?
According to a report from Poloo, who quotes three people in the vicinity of the president, Donald Trump has revealed that Elon Musk Doge is moving to members of his cabinet and other close contacts.
Donald Trump has given the CEO of Tesla and SpaceX the assignment to lead efforts to reduce public financing and to dismantle various American agencies as a special government employee. Polrico reported that both Trump and Musk have decided in recent days that Musk will soon return to his companies, even though the president is satisfied with the work of Musk at the Department of Government Efficiency of Doge.
However, the Pers Secretary Karoline Leavitt of the White House mentioned the report ‘Garbage’.
“Elon Musk and President Trump have both said * publicly * that Elon will deviate from the public service as a special government employee when his incredible work at Doge is complete,” she wrote on X.
Tesla -shares fall 13% in three months
Tesla shares fell by 13 percent in the first three months of the year, the Associated Press reported. The double digit fall is probably due to a combination of factors, including the outdated line-up, competition from rivals and a recoil of Musk’s embrace of the right wing policy. It is also a warning that the winning report of the first quarter could disappoint investors later this month.
Tesla reported deliveries of 336,681 worldwide in the quarterly from January to March. The figure was a year ago in the sale of 387,000 lower than 387,000. The decline came despite deep discounts, zero financing and other stimuli.
