Tesla CEO Elon Musk explained on Tuesday how he would prefer to cut back on the amount of hours he devotes to the Trump administration from next month.
Instead, he’s more keen on spending time at his electric vehicle maker firm, which is Tesla.
The news comes after the shares for his company took a major hit and plunged to a new low. However, after making this decision public, Tesla shares went up by 5.5% regarding his comments.
The remarks arrive as deliveries for Tesla’s ageing line-up of vehicles nosedive. Investors have sold off the firm’s stocks.
We’ve seen Musk’s Tesla sales drop big time.
Investors have sold off the firm’s stock and blamed it on the amount of uncertainty linked to Musk and how much time he’s spending managing the firm because of his involvement in the DOGE or Department of Government Efficiency.
Musk’s leading efforts in that department have been related to cutting out federal jobs and making way to save funds where he deems fit. After his poor performance of Tesla, we’re sure he might not be hanging out as much with Trump after all.