Tesla gains 22% in May as Elon Musk ends time with Trump's DOGE

Tesla CEO Elon Musk speaks alongside U.S. President Donald Trump in the Oval Office of the White House on May 30, 2025 in Washington, DC. Shares of the Elon Musk-led automaker Tesla have rallied in May despite recent poor car sales numbers for the company in China and Europe, as the billionaire CEO promised to focus more on his businesses than politics. Tesla shares gained more than 22% for the month. The stock is still down 14% for the year. Apple is down more than 19% year-to-date, the worst of all the megacaps. The bounceback in May comes as President Donald Trump marked the end of Musk's time as a "special government employee" at the helm of the Department of Government Efficiency. "This will be his last day, but not really, because he will, always, be with us, helping all the way," Trump wrote on Truth Social. "Elon is terrific!" Musk said on the most recent Tesla earnings call that his time spent running DOGE would drop significantly by the end of May, but that he plans to ... Read full article.