Overview

• Tesla shares are on track for a second straight monthly gain after a more than 20% rally in May, partially offsetting year-to-date declines
• Elon Musk concluded his 130-day term as a special government employee and plans to cut political work to a day or two per week until the end of Trump’s term
• European deliveries plunged roughly 50% year-over-year in April while Chinese sales fell about 25% in the first eight weeks of the current quarter
• According to a Bloomberg report, Tesla plans to deploy a small fleet of paid, fully autonomous robotaxis in Austin on June 12 with potential expansion based on initial performance
• A group of pension fund leaders has called on Tesla’s board to require Musk to devote at least 40 hours per week to the company to address its sales and operational challenges