Tesla’s Stock Hits Record Highs Amid Sales Slump and Musk’s White House Role
Tesla has reported a 13% decrease in vehicle sales in the first half of the year, with 721,000 units sold. Despite this, Tesla's stock has reached record highs, including a peak of $488.54 per share following Trump's inauguration. However, the company's sales decline and Elon Musk's White House role have raised concerns among shareholders.
Tesla's stock has been volatile due to various factors. In April, it traded below $215 amid fears of Trump's tariffs reheating inflation and a decline in sales. Elon Musk's endorsement of Trump in July 2024 saw the stock around $250 per share. A social media spat between Musk and Trump in June further impacted Tesla's stock situation. Musk's role in the White House also left behind brand damage, with protesters setting Tesla vehicles ablaze.
Musk, who owns stakes in xAI, The Boring Company, and Neuralink, has reassured shareholders that his companies have his full attention. He is now working seven days a week and sleeping in the office, a return to his previous work schedule. Tesla's first earnings report since Elon Musk's White House role is scheduled for Wednesday, which could provide more insights into the company's current situation.
Tesla's sales decline and stock volatility have raised concerns among shareholders. Despite record stock highs, the company faces challenges that will be addressed in its upcoming earnings report. Elon Musk's commitment to Tesla and his other ventures is being closely watched as the company moves forward.
