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Musk reports Tesla sales jump after months of boycotts, but experts suspect the pain is not over yet
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KSTP.com 5 Eyewitness News
NEW YORK (AP) — Six months after Elon Musk left the Trump administration to the great relief of Tesla investors worried about boycotts, the world’s richest man has announced some good news: Sales of Tesla cars are back.
In fact, many Tesla rivals saw sales jump even more.
Tesla stock initially rose sharply on the news, but then fell into deep losses as financial analysts expressed skepticism whether the new number signals a true turnaround given all the anti-Musk backlash.
The sharp fall on Thursday was also remarkable as investors have been surprisingly optimistic about the company in recent weeks despite terrible financial figures, sending Tesla stock up 34% in September alone.
The pay package, unprecedented for U.S. companies already known for outsized CEO pay, recently drew criticism from Pope Leo in an interview lamenting widening income gaps.