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Tesla is pushing back against a Wall Street Journal report claiming its board is actively seeking a successor to CEO Elon Musk.
Electric vehicle (EV) biggie Tesla TSLA had a rough start this year. It saw its sales slipping across all key regions, including the United States, China and Europe.
Dan Ives, Wedbush Securities Managing Director, says Elon Musk is making the right choice by focusing more on Tesla and less on the Department of Government Efficiency. Tesla's chair is denying a Wall Street Journal report that says the carmaker was looking for a new chief executive officer.
It hasn't been an easy year for electric vehicle maker Tesla (TSLA -3.08%), which has seen its stock fall roughly 30% this year (as of April 30 market close). The company reported disappointing first-quarter results, with deliveries of roughly 337,000 coming in the lowest level seen since 2022.
Shares of Tesla Inc. (NASDAQ: TSLA) dropped 3.4% on Wednesday, further eroding the recent run after Elon Musk promised to return his attention to the company he runs.
Robyn Denholm, who leads Tesla's board, said on social media that board members were “highly confident” in Mr. Musk, the company's chief executive.
The three stocks in this analysis all look as if they are going to try to go higher. At this point in time, the market continues to recover overall, and these stocks won't be any different.
Insider buying has slowed considerably in the past week or so, due largely to the current first-quarter earnings reporting season.
UK retail investors showed an appetite for US tech stocks and home-market staples over the month of April, with Nvidia Corp (NASDAQ:NVDA), Tesla Inc (NASDAQ:TSLA) and BP PLC (LSE:BP.) featuring across multiple platforms as top buys.
Chinese electric-vehicle makers XPeng, NIO, and Li Auto delivered 92,884 vehicles in April, up 83% year over year.