Tesla Stock: 22% May Surge & Musk’s Return
- Tesla (TSLA) experienced a surge in its stock value, climbing almost 22% in May.
- the executive's time with DOGE was marked by public criticism and personal attacks, creating what Wedbush analyst Dan Ives called "brand damage." Tesla shares had fallen to around...
- Tesla's robotaxi is seen at an unveiling event in Los Angeles on Oct.
Tesla stock surged in May,climbing nearly 22% following Elon Musk‘s full return to Tesla after his role with DOGE. Investors are optimistic as Musk refocuses on the company’s primary business, including its electric vehicle initiatives and the upcoming robotaxi launch set for June 12. With analysts predicting significant upside, learn the impact of this focus on Tesla’s share price and its implications for the future. News Directory 3 is following this and other tech stories. Discover what’s next for Tesla.
Tesla Stock Soars as Elon Musk Exits DOGE Role
Tesla (TSLA) experienced a surge in its stock value, climbing almost 22% in May. This boost follows elon Musk’s return to the company after a period serving in the Department of Government Efficiency (DOGE). Investors are optimistic about Musk refocusing on Tesla’s electric vehicle business, including the upcoming robotaxi launch and other ventures.
the executive’s time with DOGE was marked by public criticism and personal attacks, creating what Wedbush analyst Dan Ives called “brand damage.” Tesla shares had fallen to around $222 in March but began to recover in late April. Despite the recent gains, the stock remains down over 14% for the year, still below its December 2024 peak of $479.86.
Tesla’s robotaxi is seen at an unveiling event in Los Angeles on Oct. 10, 2024. (Tesla/Handout via Reuters / Reuters)
Ives believes that Musk’s return removes a notable obstacle for the company. He estimates a 44% upside for Tesla shares, setting a price target of $500. Musk has stated his intention to dedicate himself to Tesla, SpaceX, and xAI, focusing on critical technology rollouts.
White House senior advisor Elon Musk walks to the White House after landing in Marine One on the South Lawn in Washington, DC., on March 9. (Samuel Corum/Getty Images)
president Trump acknowledged Musk’s contributions to DOGE, thanking him for his service. Musk’s broader business empire includes spacex, Starlink, X, and The Boring company.