As soon as Musk left DOGE (Department of Governmental Efficiency) in May, Tesla (TLSA)’s investors breathed a collective sigh of relief.
When the world’s richest man was fronting that department earlier this year, Tesla sales tanked, showrooms damaged and his reputation tarnished beyond recognition.
In trying to impose his own corporate management strategies on government departments, Musk did not endear himself to departmental secretaries and staffs.
Now, that chapter is truly over. Last month, DOGE was quietly disbanded. ‘It doesn’t exist,’ answered Kupor, director of Office of Personnel Management (OPM) recently.[1]
Looking over to Tesla’s share price, it is on the verge of a massive breakout.
After Musk’s resignation from DOGE in May, Tesla shares began to form a base and started climbing. Prices established that pattern of rising lows over the last few months, along the support trendline.
While the EV maker did not join the AI hype, but it did not suffer from its fallout either (like Oracle).
The recent monster pay-package (worth up to $1 trillion) for Musk was devised to engage his service over the long term. Tesla Investors like that.
Chartwise, an upside breakout may be forced through the previous resistance at $480. If successful, prices may rally swiftly to $500 and beyond, as there is no resistance above until round number levels.
In sum, Tesla is looking primed to become the next $2 trillion company .
