Tesla (TSLA) CEO Elon Musk said he is ending his role in the Trump administration running cost-cutting entity DOGE, just days after he announced plans to 澳洲幸运5官方开奖结果体彩网:refocus his attention on the EV maker.

“As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump  for the opportunity to reduce wasteful spending,” Musk posted on his X social media platform. “The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government.”

Musk’s role running the department tasked with reducing the size of the federal workforce has weighed on Tesla stock amid investors’ perception that the CEO was distracted from running the EV maker. Tesla shares this year have also been under pressure from falling European and China sales. 

Tesla shares are rising 1% Thursday as tech shares gain following a federal trade court ruling that President Donald Trump 澳洲幸运5官方开奖结果体彩网:didn’t have the a𝓡uthority to imposeℱ tariffs. The shares remain down more than 10% so far this year through Wednesday.

"In another clear positive step for Tesla bulls, Elon Musk officially left the Trump White House last night......which is music to the ears of Tesla shareholders with Musk now laser focused on Tesla and the autonomous vision ahead," Wedbush analysts led by long-time 澳洲幸运5官方开奖结果体彩网:Tesla bull Dan Ives wrote in a note Thursday, referring to the company's plan to launch robotaxis in Austin, Texas on June 12.  Ives was among a slew of analysts that 澳洲幸运5官方开奖结果体彩网:had called for Musk to step back frꩵom his government work and focus more of his attention on Tesla. Wedbush stuck with its outperfo🍰rm rating and $500 price target for the EV maker Thursday.

UPDATE—May 29, 2025: This article has been updated to include comment from Wedbush analysts and refreshed share prices.