“Tesla Bulls Thrilled as Elon Musk Vows to Prioritize Company Growth”

Tesla Bulls Thrilled: Tesla Bull ‘Impressed’ as Elon Musk makes promise to Tesla investors

Tesla CEO Elon Musk said that his time with the Department of Government Efficiency (DOGE) will drop to a day or two a week starting next month. Speaking at the company’s earnings call,

He said, “Starting next month, May, my time allocation to DOGE will drop significantly”.

Musk’s renewed focus won praise from long-term Tesla investor and Wedbush Securities analyst Dan Ives. Sharing a post on X, Ives wrote “Musk has handled the conference call very well.”

“Recommit to Tesla and major step back on DOGE.

This was well communicated by Musk on this call in our view…needed to hear this tone and direction,” he stated.

Tesla shares have dropped by over 40% this year.

Musk’s involvement with the government has raised concerns among investors, who blamed his ties with the Trump administration for a decline in the company’s profit and sales.

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Ives, who continues to back Tesla with a bullish outlook, has previously warned of a “$100 overhang per share” if Musk remained heavily involved in government. “If he stays and he doubles down and recommits, then I think this starts to become an avalanche that you can’t control,” Ives said.

Elon Musk addresses Tesla protests during earnings call

Addressing protests against Tesla, the tech billionaire said “The protests that you’ll see out there, they’re very organized. He further claimed that some of these protesters are likely protesting “because they’re receiving fraudulent money” or are “recipients of wasteful largesse.”

However, he did not share any evidence in support of his statement.

During the earnings call, Musk reiterated that he’ll keep backing the president with DOGE “to make sure that the waste and fraud that we stop does not come roaring back.”

Stating that it is necessary to cut back on “waste and fraud”, he urged investors to “look beyond the bumps and potholes immediately ahead of us.”