Electric vehicle maker Tesla recently shared the news of disappointing first-quarter results when its earnings report was weaker than most Wall Street analysts had expected. Tesla’s revenue had tumbled 9% and its profit was down 71%.
Typically, this would result in a sharp decline in investor confidence and share prices. Tesla’s share prices have indeed dropped over 40% this year. But after the earnings report, Tesla’s stock rallied when CEO Elon Musk vowed to scale back his involvement with the US Department of Government Efficiency (Doge) and focus on Tesla instead.
