Tesla Stock Comes Off Highs Amid Reports Elon Musk Will Work At DOGE For Four Months; Analyst Says EV Giant Is A Buy

Tesla broke its string of five consecutive declines on Wednesday, but came off highs late in the day as reports emerged that Chief Executive Elon Musk plans to spend the next four months working at the Department of Government Efficiency, known as DOGE, as he aims to cut $2 trillion from the federal budget. Tesla stock is in a sharp downturn — off more than 7% this week and down around 30% since hitting an all-time high in December. Benchmark analyst Mickey Legg initiated coverage of Tesla on Wednesday with a buy rating and a 475 price target, citing growth opportunities in autonomous vehicles and robotics along with energy storage.