Tesla CEO Elon Musk is back in charge, and it’s showing in the company’s stock prices. Despite a 30% decline since the start of the year, Tesla’s stock rebounded on Monday after Musk held an all-hands meeting with employees.
In a move to reassure investors, Musk told employees not to sell their shares and promised that everything would work out. The strategy paid off as the company’s stock shot up 12% on Monday and closed at $278.39, its best day since the November presidential election.
Analyst Dan Ives said Musk’s return to focus on Tesla has sent a positive signal to employees and investors. “The stock was way oversold and is bouncing as Musk is back in charge,” Ives told Fortune. “We’re expecting Musk to take a small step back from DOGE” to focus on Tesla.
Tesla faces increased pressure from rival BYD, which overtook the company with annual sales of $107 billion. However, investors seem to be rallying behind Musk despite criticism and protests targeting his actions.
While there is still brand damage caused by Musk’s political involvement, support for the CEO appears to be building. With Musk back at the helm, Tesla stock continues to rise.
Source: https://fortune.com/2025/03/25/tesla-ceo-elon-musk-in-charge-stock-jumps-12-percent