Elon Musk’s Playbook for DOGE Has a Precedent: X

Published On Dec 13, 2024, 11:34 AM

Elon Musk, appointed to lead a new government efficiency department, aims to cut the federal budget by $2 trillion, or 30%, within two years. He has publicly criticized several federal employees, particularly those involved in climate issues, suggesting significant job cuts. Musk's approach mirrors his contentious acquisition of Twitter, using social media as a tool to rally support and influence change in government operations.

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Stock Forecasts

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Positive

Musk's aggressive push for budget cuts could create volatility in sectors reliant on government funding, particularly renewable energy and technology firms linked to climate initiatives. However, his leadership and public persona may boost interest in companies positioned to benefit from efficiency initiatives.

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Negative

Musk's actions can lead to increased scrutiny and potential regulations on his companies, particularly Tesla. Any adverse regulatory changes could negatively impact Tesla's stock performance.

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