2 weeks Ago
Tesla CEO Elon Musk said Tuesday he would cut back "significantly" the time he devotes to the Trump administration from next month and spend more time running the electric-vehicle maker. Tesla shares, which had risen 4% in after-hours trading right before an earnings conference call began, spiked to trade up 5.5% on Musk's comments.
The remarks came as deliveries of Tesla's aging lineup of cars have nosedived. Investors have sold off the company's stock, assailed by doubt about how much time Musk is spending managing the company because of his involvement in the so-called Department of Government Efficiency, where he has led efforts to cut federal jobs..
