Musk’s Market Moves Meet Mixed Momentum
Elon Musk’s recent departure from the White House advisory role has sparked optimism among investors, but setbacks at Tesla and SpaceX have raised fresh concerns, according to a Reuters report.
After stepping down from leading the Trump administration’s “Department of Government Efficiency,” Musk has shifted his focus back to his business ventures. Tesla's sales have declined, resulting in a nearly 25% drop in share value since December. The company is facing stiff competition in both China and Europe, further straining its market position.
SpaceX, another key pillar of Musk’s empire, also suffered a recent rocket launch failure, prompting renewed questions about the progress of the U.S. space program.
Meanwhile, Musk has announced plans to launch Tesla’s driverless robotaxi service in Texas next month. However, analysts have voiced concerns over his close ties with former President Trump and the potential use of his AI platform, Grok, in U.S. federal projects.
