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Tesla shares rebound in May as Elon Musk steps back from government role
CDG News Alert (1 min. read)
Anna del Villar
June 02, 2025
Driving the news: Tesla $TSLA ( ▼ 1.53% ) shares surged over 22% in May despite lower sales numbers in China and Europe, as Elon Musk wrapped up his controversial stint leading the Department of Government Efficiency (DOGE), according to CNBC.
For context: President Trump marked the end of Musk's time as a "special government employee" running DOGE on Truth Social. However, Musk says he'll continue working "a day or two per week" on government matters and keeping his White House office. The CEO promised on Tesla's recent earnings call that his government time would drop significantly by the end of May.
Why it matters: The stock rally suggests investors are relieved to see Musk refocusing on Tesla after a five-month period where the company lost market share globally.
What we're watching: Musk's return to business comes at a critical time for Tesla. Despite the May gains, the company is still down 14% for the year. The question now is whether his renewed focus can reverse the sales slide in key markets.
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