Tesla Shares Rally on Hopes Musk Will Refocus on Carmaker

Tesla Inc. investors shrugged off the company’s worst vehicle sales since 2022 and bid up its shares on hopes that Elon Musk will step back from his work for the Trump administration.

While the billionaire has yet to make a formal announcement about his plans, a report by Politico Wednesday suggested his time as a top adviser to Donald Trump may end soon. The president has told his inner circle recently that the Tesla chief executive officer will return to his businesses in the coming weeks, according to the news outlet, which cited unidentified Trump insiders.