JAKARTA – Since Elon Musk announced his resignation from the Department of Government Efficiency (DOGE) in April, Tesla (NASDAQ: TSLA) shares have begun to rebound from their sharp decline earlier in 2025.

As previously reported by IDNFinancials, Musk first revealed the end of his role at DOGE in April 2025.

“Starting next month, I will be allocating far more of my time to Tesla,” he said during Tesla’s earnings call on 22 April 2025, as quoted by Business Insider.

From that point through the close of US trading on Thursday (29/5), Tesla shares surged 50.62% to USD 358.43.

Previously, Tesla shares had plunged 37.26% to USD 237.97 from the beginning of the year until 22 April 2025.

Musk’s role in the US government had indeedsparked a boycott movement against Tesla, which contributed to a 9% drop in revenue and a 71% plunge in net profit in the first quarter of 2025.

On Thursday (29/5), Musk posted a farewell message on his social media platform X, formally stepping down on 30 May 2025. He thanked President Trump for the opportunity to “reduce wasteful spending.”

Earlier, on 24 May, Musk had already expressed his intention to return to an intensive work schedule, saying he would once again “sleeping in conference/server/factory rooms.” (ZH)