Tesla’s stock price is bouncing back, despite attempts by left-wing groups to launch a “Tesla Takedown” using targeted protests, vandalism and a broader political campaign to make buying Tesla products morally unacceptable.
Over the last five days, Tesla Stock has increased in value by a little under 25%.
The trend for the year-to-date, is negative—a decrease of just under 25%—but for the past 12months, the trend is positive, showing an increase of nearly 70%.
The bounce comes as Tesla CEO Elon Musk announced that he would be reducing his commitments to the Department of Government Efficiency (DOGE)—but not stepping away fully—during a conference call on Tuesday.
“It’s going to be viewed historically as probably the most important conference call Musk has ever had,” Wedbush Securities analyst Dan Ives said, speaking to Bloomberg TV.
Musk’s support of President Trump and his leadership of DOGE has been extremely controversial, with some on the left accusing the billionaire of being “the real president.”
The most vigorous resistance to Musk’s swingeing recommendations of cuts to government departments has come in the form of a widespread, coordinated campaign of protests and vandalism against Tesla dealerships, charging stations and vehicles which AG Pam Bondi has described as “domestic terrorism.”
Individuals who have been arrested in connection with the protests are facing stiff prison sentences.
DOGE recently revealed cost savings of $150 billion dollars across government departments, as it seeks to achieve its goal of $ 1 trillion in cost savings before the end of its mandate next year.
According to the website, the savings are a “combination of asset sales, contract/lease cancellations and renegotiations, fraud and improper payment deletion, grant cancellations, interest savings, programmatic changes, regulatory savings, and workforce reductions.”
The latest batch of receipts posted on the website shows over 7,000 terminated contracts, including individual contracts amounting to billions of dollars. One cancelled contract, for refugee resettlement, amounted to $2,902,177,562.
Of all the departments of the US government, Health and Human Services has so far generated the greatest cost-savings, followed by the Department of Education and the General Services Administration.
The Department of Commerce, Department of Justice and Department of Veterans Affairs are among the departments generating the least savings.
DOGE also recently discovered that children and people who are clearly dead have been claiming hundreds of millions in unemployment benefit.
A survey of unemployment claims revealed that nearly 25,000 people aged over 115 claimed a total of $59 million in benefits, and 28,000 people aged between 1 and 5 claimed $254 million in benefits.