If Elon Musk heads up DOGE, it may unsettle Tesla stock: Analyst
Published On Nov 4, 2024, 9:22 AM
Analysts speculate that if Elon Musk takes a role in Trump's proposed Department of Government Efficiency (DOGE), Tesla (TSLA) could be affected negatively. Bank of America analyst John Murphy highlighted uncertainties regarding Tesla's leadership and the fate of ongoing projects if Musk becomes more involved in government. He noted that while Tesla continues to innovate in various areas, the potential shift could unsettle investors who believe in Musk's vision for the company. However, Murphy maintains an 'Outperform' rating on Tesla shares, suggesting confidence in the company's prospects despite uncertainties.
Stock Forecasts
TSLA
Negative
If Elon Musk heads up DOGE, there may be leadership uncertainty at Tesla which could unsettle investors and affect stock performance negatively. However, Tesla's strong position and ongoing projects might mitigate any immediate impacts.
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