The stock got a fresh boost on Friday as the US Department of Transportation announced looser rules for self-driving cars.

During an April 22 earnings call for Tesla, Elon Musk announced that he would reduce his hours with DOGE, starting next month, to focus on his role as Tesla's CEO. This announcement came a week after the White House press secretary fired back at claims on X, formerly Twitter, that Musk was leaving his position in the coming weeks.

Elon Musk's Department of Government Efficiency (Doge) - set up to cut US government spending - claims to have saved, on average, more than $10bn a week since President Trump entered office. "We're talking about almost $200bn and rising fast," Trump told the BBC when talking about Mr Musk's cost-cutting drive on 23 April.