Tesla Stock Is Jumping Today. Is the Stock a Buy Now That Elon Musk Plans to Step Back From DOGE?

Tesla (NASDAQ: TSLA) stock is seeing big gains in Wednesday's trading despite publishing disappointing earnings results yesterday after market close. The company's share price was up 7.2% as of 11:30 a.m. ET. Meanwhile, the S&P 500 was up 2.1%, and the Nasdaq Composite was up 3%.Tesla stock is rocketing higher today thanks to a combination of macroeconomic and business-specific catalysts. Recent statements from President Donald Trump and other White House officials suggest a desire to de-escalate the trade war and could indicate that a deal with China on tariffs and other aspects of policy is a key near-term priority. The stock market is surging in response.News that CEO Elon Musk will be stepping back from the initiative called the Department of Government Efficiency (DOGE) is also helping to boost Tesla's valuation despite the company's concerning Q1 report yesterday. Even with today's rally, the stock is still down roughly 46% from the high it hit last year. Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool