Tesla reverses course, paring 5% gains in early trading Wednesday.
President-elect Donald Trump appointed Musk to a newly created government efficiency post on Tuesday evening. Musk will be tasked with reducing government waste to save taxpayers money.
Investors knew another job for Musk, who runs Tesla, SpaceX, X, xAI, and other companies, was a possibility. Still, there is a risk he will stretch himself too thin, creating a problem for the car company.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments