Tesla (TSLA) stock rose 1.6% ahead of the opening bell on Wednesday in a choppy week of trading for the electric vehicle maker.
Shares fell Tuesday after Tesla’s sales data from around the world highlighted the company’s challenges with rising competition and brand weakness in certain regions. Musk has seemed to pay little mind to concerns about the EV business, writing on X on Monday that “~80% of Tesla’s value will be Optimus.”
On Wednesday, Salesforce CEO Marc Benioff shared a photo of himself and Musk, praising the CEO. “Amazing what @elonmusk is doing to create the future. Just inspiring,” Benioff wrote.
However, as my colleague Pras Subramanian notes today, electric vehicle makers like Tesla may be in a world of pain when President Trump’s “One Big Beautiful Bill Act” (OBBB) ends federal EV tax credits later this month. According to one veteran analyst, sales of EVs in the US may be cut in half after the loss of the credits.
