Tesla, Elon Musk
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Tesla Stock Has A New Base And Cathie Wood Is Buying As Elon Musk Looks To Consolidate Business EmpireCathie Wood and Ark Invest scooped up nearly 60,000 shares of TeslaTSLA in Friday's stock market as CEO Elon Musk seeks further cooperation between his businesses with SpaceX and potentially Tesla investing in his artificial intelligence company,
Tesla stock price fell Monday after Musk said he's formed the America Party, the latest development in the billionaire's feud with President Trump.
Shareholders are being urged to invest in his high-risk AI venture xAI, which runs the chatbot Grok and has integrated Musk’s microblog platform X. How Tesla gains is unclear, but investor faith in Musk could yet lead the faltering EV maker to do his bidding.
Dan Ives, an analyst with Wedbush Securities, wrote that Musk's continued push into politics was "exactly the opposite direction" investors wanted to see.
Mr. Musk’s involvement in politics and his financial support for the president’s campaign were once seen by investors as a benefit to Tesla, fueling a steep rise in company shares after the election last year. That association has now turned into a liability. Tesla shares are down 40 percent from their peak in December.
Tesla stock rose Monday morning after CEO Elon Musk said Tesla should be able to invest in his xAI startup pending a shareholder vote. This would be another instance of the “Muskonomy” at play, where Musk’s companies become more financially intertwined,
Elon Musk is integrating AI across his companies and blurring the lines between them.
Tesla (TSLA) shares are falling amid slowing sales, fierce competition, and CEO Elon Musk’s political activism. Learn how the EV company compares to Li Auto (LI).
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