Analysts Divided About Impact Of Elon Musk Co-Leading DOGE On Tesla Stock: Here's What Bulls And Bears Have To Say

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Trump also said in his statement that the department will provide advice and guidance from "outside the government," likely implying that Ramaswamy and Musk's appointments will not require the approval of the Senate.“The structure allows Musk to avoid resigning from Tesla and SpaceX, and avoid federal conflict-of-interest rules that could have mandated divestiture of his holdings,” Black said about the announcement.

President-elect Donald Trump’s naming of Tesla Inc.(NASDAQ:TSLA) CEO Elon Musk as co-lead for the Department of Government Efficiency (DOGE) was expected and likely to be neither positive nor negative for the EV giant’s stock, according to The Future Fund LLC managing partner Gary Black.

The department, he said, will be aimed at bringing down government bureaucracy, slashing excess regulations, cutting waste expenditures, and restructuring federal agencies.

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Author / Journalist: Anan Ashraf

Category: Technology

Markets: United StatesChina

Topics: Gordon Johnson EVs Mobility US88160R1014 Tech News Wedbush Elon Musk Benzinga Dan Ives Expert Ideas Analyst Color TSLA Department Of Government Efficiency Electric vehicles Gary Black

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-14 @ 12:23:42 (10 hours ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 496 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 21 words per sentence (average)

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Copyright Owner: © Benzinga

News ID: 23585072

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