Tesla stock surged over 20% after CEO Elon Musk announced he'll dedicate more time to the company starting in May. This follows shareholder concerns about Musk's involvement with the Department of Government Efficiency (DOGE), a role that has negatively impacted Tesla's brand. Musk stated he'll reduce his DOGE responsibilities to a day or two a week. Analysts view this as a significant positive for Tesla, although the stock remains highly valued compared to its earnings. The stock received a further boost from the US Department of Transportation's announcement of relaxed autonomous vehicle regulations.

Prepared by Christopher Adams and reviewed by editorial team.