Telsa (NASDAQ:TSLA) this week reported a dismal quarterly performance, but investors still rewarded the stock after top boss Elon Musk promised to return his focus to the company from his government advisory role and said the firm's robotaxi and artificial intelligence ambitions remained on track.

Tesla shares rallied in extended trade. Musk's announcement on stepping back from DOGE is welcomed by investors but may not go far not enough.

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.