The share price of the American electric car manufacturer Tesla moved to growth after reports that the head of the company, Elon Musk, will soon leave the post of head of the United States Department of Public Efficiency (DOGE), follows from trading data.
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As of today, the price of Tesla shares has grown by 5.32% to $282.85 per security.
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According to sources, US President Donald Trump has informed his entourage that the head of the United States Department of Government Efficiency (DOGE), Elon Musk, will leave his post in the coming weeks. It is noted that the president is pleased with Musk and DOGE, but both decided that it was time for the entrepreneur to return to business.
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At the same time, earlier on Wednesday, the electric car manufacturer’s securities noticeably fell in price after the publication of weak reports. Tesla’s shipments in the first quarter decreased by 13% year-on-year, while production decreased by 16%.
The American company Tesla Motors, headed by Elon Musk, was founded in 2003 as a developer and manufacturer of electric vehicles and technologies related to them. In addition to electric vehicles, the company manufactures batteries and electric motors using its own technology and sells them to other automotive companies, in particular Toyota and Daimler. In 2021, the company’s headquarters was moved from Palo Alto to Austin, Texas.
