Tesla's Remarkable Recovery

After an initial dip of 6% at the opening, Tesla Inc.'s shares experienced a significant surge, climbing almost 5% on Wednesday. This rebound was fueled by reports indicating that CEO Elon Musk is set to step down from his advisory role in the Trump administration, a move that promises to refocus his efforts on the electric vehicle pioneer.

Behind the Numbers

Despite a disappointing first-quarter deliveries report showing a 13% decline from the previous year, with 336,000 vehicles delivered, investor sentiment shifted positively. The turnaround was notably influenced by a Politico report, which revealed that President Donald Trump had informed his administration of Musk's impending departure from his government position.

Market Reaction

The news alleviated concerns among investors regarding Musk's divided attention between Tesla and his governmental duties, leading to a notable stock price increase. By 11:38 am CET, Tesla's stock had jumped 4.83% to $281.4300 per share, marking a significant recovery from its earlier lows.