Tesla shares increased by more than 20 % in May, putting shares on the right track of the most powerful monthly closure since the last days of January, according to CNBC data.
But the price gathering comes at a time when the company faces serious problems in the largest markets abroad, and its CEO is exposed to increasing pressure to focus on the company’s problems instead of politics.
The CEO of the company, Elon Musk, promised, during the last Tesla profit call, that he is away from his role in the Ministry of Government – also known as DOGE – at the end of May.
“This will be his last day, but not really, because it will always be with us, help us all the way,” said President Donald Trump’s statement about the social truth.
Elon confirmed that while he is retreating, he is still planning to spend a “day or two per week” working with Trump until the end of the semester, and said in a press event on Friday that he will continue to advise the president and keep an office inside the White House.
“If there is anything that the president wants to do, then I am in the service of the president,” Elon said in the Oval Office. He added that Dog will eventually reduce a “trillion dollars of waste and fraud”, even without it, as it has just started
Tesla sales tank in Europe and China while protests grow
While climbing the stocks, sales of Tesla cars are running in the opposite direction. In Europe, sales decreased by 50 % on an annual basis in April. In China, one of the most important markets of EV, the Tesla numbers decreased by 25 % on an annual basis during the first eight weeks of the current quarter.
These numbers come at a time when competitors like Waymo, owned by Alphabet, are moving forward. Waymo has recently crossed 10 million paid rounds in the United States, while the Robotaxi program, which has long been dating back to Tesla still stops.
In addition to heat, Elon’s political ties are violent. The company faced public protests linked to Elon’s support for Trump and its support for the right AFD party in Germany. Internal pressure is also a building.
A group of retirement fund leaders recently sent a letter to Robin Dunholm, Chairman of the Board of Directors of Tesla, and they moved what they called the “crisis” of leadership. They have demanded a need for at least 40 hours a week on Tesla.
“The fluctuation of stock prices in Tesla, low sales, as well as annoying reports related to the company’s human rights practices, and the global reputation hanging is a cause of serious anxiety,” as stated in the letter. They also blamed many of the company’s recent conflicts for Elon’s close relationship with Trump.
Despite the decrease in sales, Elon David Faber told CNBC that Tesla will start with a small fleet of TESLA model vehicles equipped with the latest fully driving self -driving programs.
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Source: https://www.cryptopolitan.com/tesla-trongest-close-since-janury/