The value of the stock (which is outrageously overvalued) is solely down to musk’s personality cult. So now that it’s been announced that he should be “leaving government and going back to his companies” it led to a stock jump, since his presence is the only reason that the stock is worth a lot in the first place.
The issue is that Musk often sounds convincing when he talks about things you don’t really know much about, and there are a LOT of investors who have a lot of money but don’t really know much about anything.
The value of the stock (which is outrageously overvalued) is solely down to musk’s personality cult. So now that it’s been announced that he should be “leaving government and going back to his companies” it led to a stock jump, since his presence is the only reason that the stock is worth a lot in the first place.
The issue is that Musk often sounds convincing when he talks about things you don’t really know much about, and there are a LOT of investors who have a lot of money but don’t really know much about anything.