Tesla (TSLA) CEO Elon Musk, who runs multiple businesses, said on Monday during a Fox interview that he has been operating his companies “with great difficulty.” This comes at a time when electric vehicle maker Tesla has seen its stock value plummet. Indeed, TSLA shares had their worst drop in five years during today’s trading session, falling over 15%, due to concerns about the firm’s declining sales.
Musk also talked about his role in the Trump administration’s Department of Government Efficiency (DOGE) and said that he expects to stay in his position for another year. As part of his government work, Musk is trying to make the government more efficient by reducing spending and the number of employees. Currently, the DOGE team has over 100 people working on this effort, but Musk said that the team might grow to 200 people in order to help them achieve their goals.
It has definitely been a chaotic few days for Elon Musk. Indeed, last Thursday, a SpaceX Starship rocket exploded just minutes after launching from Texas. Things got worse on Friday when the New York Times reported that President Trump was planning to limit Musk’s power after top Republicans became outraged with him. Furthermore, the “Tesla Takedown” movement staged nationwide protests at Tesla showrooms during the weekend, and Musk’s social media platform X suffered a cyberattack on Monday.
Is Tesla a Buy, Sell, or Hold?
Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 13 Buys, 11 Holds, and 12 Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $340.31 per share implies 53.2% upside potential.
