Tesla shares climbed roughly 5% on Wednesday following a Politico report that Elon Musk may soon leave his White House, according to CNBC. The report claimed that Musk would leave his role overseeing the Department of Government Efficiency, allowing him to refocus on Tesla. The White House dismissed the report as “garbage.” Musk’s potential exit comes as Tesla weathers weak Q1 deliveries, backlash over Musk’s political ties, and investor concerns about his divided attention. NBC reported that Musk could leave after a 130-day stint, according to Trump Cabinet members and senior officials.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Tesla shares climbed roughly 5% on Wednesday following a political report that Elon Musk
00:06may soon leave his White House position, according to CNBC. The report claimed that
00:10Musk would leave his role overseeing the Department of Government Efficiency,
00:14allowing him to refocus on Tesla. The White House dismissed the report as garbage.
00:18Musk's potential exit comes as Tesla weathers weak Q1 deliveries, backlash over Musk's political ties,
00:25and investor concerns about his divided attention. NBC reported that Musk could
00:29leave after a 130-day stint, according to Trump cabinet members and senior officials.