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Tesla’s (TSLA) automotive revenue tanked a concerning 20% on a year-over-year basis in its first quarter of 2025. Shares of the electric vehicles behemoth are still up more than 8% on Wednesday.
Investors are cheering TSLA shares primarily because the company’s chief executive, Elon Musk, confirmed plans to step back from politics, encouraging investors who have been complaining about his divided attention for months.