Could Musk Be Leaving DOGE to Focus on Tesla?
Tesla stock has been in serious decline for a while now, but on Wednesday, the stock price shot up 11.4% to a price of $283. The price spike is fueled by speculation that Musk will return to Tesla.
Elon Musk has been hard at work in the U.S. government, heading up DOGE (Department of Government Efficiency), but there is now talk that he will depart that office and focus more fully on his floundering electric car company Tesla.
As of Thursday morning, Tesla stock was in decline again, falling 3.54%, but that will certainly change if Musk so definitively on record as saying he will focus on Tesla. Many investors have bewailed the fact that he has put so much effort into DOGE in recent months and allowed his car company to continuously decline in both sales and stock value.
The reason for Tesla’s stock jump this morning can be blamed on the new tariffs announced by President Donald Trump. Those are certain to affect automakers and the cost of importing vehicles for the foreseeable future. Trump lodged a number of new tariffs against China, Taiwan, Vietnam, and the entire European Union. Retaliatory tariffs from those countries are expected to follow soon.
Is Musk’s Departure from DOGE Certain?
There are reports that Musk will leave DOGE, but Musk and Press Secretary Karoline Leavitt have both denied previous reports that Musk would be stepping down from his government position. They say that Musk will leave DOGE when his work there is finished, and Musk has been busy seeking out government waste in spending and causing many government employees to lose their jobs as a result of his efforts.
Initially, DOGE was intended to continue operating until July of 2026. That could change, though, if the work is going faster than anticipated or Musk requests that he step down to focus on other endeavors. Musk is scheduled to work in his current capacity for 130 days and is targeting a reduction of $1 trillion in government spending. This would mean major changes for numerous government departments.
Right now, it looks like reports of Musk’s departure from DOGE are unfounded, but he has been known to pivot quickly before in the past and move from one endeavor to another with little warning.
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