Tesla shareholders are now celebrating a big rise after Elon Musk announced his retirement from politics and focused entirely on his company.
Since Musk revealed during Tesla's financial report session that he would "spend more time on Tesla" starting this May, Tesla shares have jumped by 20%, closing at a high of $284.96 last Friday.
Investors, who were previously disappointed by Musk's attitude that he overestimated the Trump administration through the Department of Government Efficiency (DOGE), finally got a long-awaited injection of confidence.
Analysts believe this could be the point of Tesla's revival, especially after the United States (US) government also announced a relaxation of regulations for self-driving car testing.
The move is seen as an important step to compete with China.
Tesla's sudden rise is proof that in the world of markets, big opportunities can appear quickly and suddenly.
But as Tesla fans began to celebrate the good news, a political storm hit New York, crippling the company's stock.
State lawmakers, including former Musk supporter Senator Patricia Fahy, are now taking action to revoke Tesla's exclusive rights to have dealerships in the state.
Fahy has introduced a bill to distribute Tesla's licenses to other EV manufacturers such as Rivian and Lucid, saying Musk's political direction is "a step backwards" for clean energy.
With Tesla facing both a tailwind of support and a political storm, the company's journey to regain its former position is far from over because, in reality, "the damage had been done."
