Tesla's $28.097 Billion Trading Volume Leads the Day Despite Stock Decline

On May 1, 2025, Tesla's trading volume reached $28.097 billion, marking a 21.76% decrease from the previous day, making it the highest trading volume of the day. Tesla's stock price fell by 0.58%, marking the second consecutive day of decline, with a total decrease of 3.94% over the past two days.

Tesla's recent financial performance has been under scrutiny, with the electric vehicle giant reporting a 9% year-on-year decline in total revenue to $19.34 billion in the first quarter of 2025. This figure fell short of analysts' expectations of $21.11 billion. The company's sales and profits have also seen a sharp drop, with both the top and bottom lines missing estimates.

Elon Musk, Tesla's CEO, has acknowledged that his involvement with the Trump administration could be negatively impacting the company's stock price. During a recent earnings call, Musk stated that he plans to reduce his time running the so-called Department of Government Efficiency to just "a day or two per week" starting in May.

In response to media reports suggesting that Tesla's board was exploring the possibility of replacing Musk as CEO, Tesla chair Robyn Denholm has vehemently denied these claims. Denholm stated that the reports are "absolutely false" and expressed the board's confidence in Musk's ability to continue executing the company's growth plan.