Tesla investors saw a glimmer of hope on Wednesday after reports suggested that Elon Musk could soon step down from his role in the Trump administration. The speculation fueled a 5% rebound in Tesla’s stock, which had earlier dropped as much as 6.4% due to disappointing first-quarter vehicle deliveries.

While the White House dismissed the report as "garbage," it nevertheless sparked optimism among shareholders who believe Musk’s return to full-time leadership at Tesla could help the struggling electric vehicle maker regain its footing.

Musk’s White House Role Under Scrutiny

According to Politico, Musk and President Donald Trump have agreed that the billionaire will soon shift his focus back to his businesses, including Tesla. NBC News further reported that Musk’s government tenure might end after 130 days as a special employee. A senior official confirmed that Musk could leave within months, potentially reducing investor concerns about his divided attention.

Expect ongoing updates as this story evolves.

Source: Finance Magnates