Elon Musk has a long history of overpromising and underdelivering. In the past decade, his sky-high predictions around everything from full self-driving Teslas to high-speed tunnels and manned missions to Mars have reliably failed to defy gravity.
Here are some of the major companies whose stocks moved on the week's news.
In a joint press event with President Trump in the Oval Office, Tesla CEO Elon Musk formally announced his departure from the administration. He has publicly recommitted himself to lead his electric vehicle company as he stepped back from his lead role as the head of the Department of Government Efficiency (DOGE) in recent weeks.
Automakers in the United States, including Tesla , must build entire vehicles including all their parts in the country instead of manufacturing parts abroad, President Donald Trump said on Friday.
Shares of the Elon Musk-led automaker Tesla have rallied in May despite poor car sales numbers for the company in China and Europe. Musk's work leading DOGE, President Donald Trump's initiative to slash federal agencies and their resources, is coming to a formal end.
As Elon Musk steps away from DOGE, Tesla faces a long-overdue stockholder “intervention.”
TESL, NITE, XLY, VCR and FDIS can help investors tap Tesla's robotaxi momentum and Musk's renewed focus on AI and business after political exit.
Tesla sales in Québec plunged 85% in the first quarter, mirroring sharp declines seen in Europe. Canada has frozen $43 million in Tesla EV rebates due to Trump's tariffs and fraud concerns.
Investors have bid up Tesla share in anticipation of the company's June robotaxi service launch in Austin, Texas.
Tesla CEO Elon Musk's role with the Trump administration on Wednesday and will be able to focus more time on Tesla, as the company has faced headwinds this year.
Tesla is a business built, in part, on government regulations and incentives, from a Department of Energy loan guarantee in 2009 to the regulatory credits it sells to other automakers, which have driven a third of its $32 billion in profits since 2012.
A group of Tesla shareholders sent a letter to the Board demanding answers about Elon Musk's path forward. Transcript: Elon Musk is officially stepping down from his role in the Department of Government Efficiency.