Tesla Rebounds Amidst Market Jitters, Holding Steady with Bitcoin

Despite disappointing Q1 earnings and a recent decline in investor confidence, Tesla saw a surge in share price following Elon Musk’s commitment to focus on the company again. The announcement came after the release of Tesla’s first-quarter financial results, which missed expectations. Notably, Tesla’s response was quick: its stock experienced a 5.4% increase in after-hours trading following Musk’s promise to step back from his role with the Trump administration’s Department of Government Efficiency (DOGE). Musk revealed plans to significantly reduce his government duties starting May.