The content presented here is not intended as investment advice, and the author holds no positions in any of the mentioned stocks.
Elon Musk’s Shift in Focus: A New Era for Tesla?
Recent developments suggest that Elon Musk is distancing himself from Dogecoin (DOGE) and is refocusing his energies on the operations at Tesla. According to reports, Musk has resumed sleeping on factory floors, a practice he had seemingly paused as he immersed himself in cryptocurrency pursuits. In an effort to clarify his relationship with Donald Trump amidst speculation of a rift, both are set to hold a press conference today, greatly amplifying chatter across social media platforms.
A Timeline of Events
The pivot toward Tesla began during an earnings call in April when Musk announced that his work on DOGE was “mostly done”and that he would allocate more time to the automotive giant starting in May. By the third week of that month, he declared plans to spend “a couple of days”at the White House in the weeks to come, signaling his ongoing influence in political circles.
Elon Musk worked privately to derail the OpenAI deal announced in Abu Dhabi last week if it didn’t include his own AI startup, at one point telling officials in the UAE that there was no chance of Trump signing off unless his company was included.https://t.co/JVMKPfM310
— Rebecca Ballhaus (@rebeccaballhaus) May 28, 2025
Speculation Surrounding Musk and Trump
Rumors of discord between Musk and Trump have surfaced, with some attributing the potential fallout to the recent legislative proposals suggesting significant increases in near-term deficits. Furthermore, reporting from the Wall Street Journal insinuates that Musk’s promotion of xAI during his recent UAE trip could have contributed to tensions. However, given past inconsistencies in WSJ’s reporting on Musk, such theories should be approached with caution.
Now that Elon Musk seems to be drifting away from Trump, will his approval ratings bounce? He remains well below that of Trump currently.pic.twitter.com/rvqFgAkoeA
— funwithnumberz (@funwithnumberz) May 29, 2025
The State of Tesla and DOGE
A simpler truth might lie in the waning popularity of Musk himself, which in turn has affected Tesla’s sales performance. Industry analysts predict a year-over-year decline in Tesla’s sales by 7% for Q2 2025 and 5% for the entire fiscal year. Concurrently, Musk’s ambitions with DOGE are being challenged by ongoing legal issues, which have hampered overall momentum.
🇺🇸 President Trump just said he will hold a press conference with Elon Musk in the Oval Office tomorrow at 1:30PM ET pic.twitter.com/2cPV2cYgZw
— Evan (@StockMKTNewz) May 30, 2025
Upcoming Press Conference: What to Expect
The imminent press conference, slated for today at 1:30 PM EDT, brings renewed focus to the dynamics between Trump and Musk. Expectations are running high regarding the topics of discussion.
Trump’s holding a press conference with Elon Musk this Friday at 1:30 p.m. ET. Here’s what Polymarket expects they’ll say during the presser.pic.twitter.com/X2l5qUgN5W
— Wall St Engine (@wallstengine) May 30, 2025
What Are Experts Predicting?
This upcoming event has prompted a flurry of betting on Polymarket, where participants speculate about the key phrases that will be mentioned during the conference. Currently, there is an 87% probability that Tesla will be referenced, along with similarly high odds for multiple mentions of DOGE. Other trending keywords include Biden, Harvard, and AI.
To stay updated on this evolving story, you can view the betting contracts here.
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