Tesla Rises as Musk Steps Back from Politics. The Rest of the Mag 7 Are Falling.
Tesla stock was leaving the Magnificent Seven in the dust in a sideways day of trading.
The electric vehicle stock was up 3.2% after CEO Elon Musk said at a conference in Qatar that he would be taking a step back from politics and expected to be the company’s chief executive in five years, according to Bloomberg.
The rest of the Mag 7 couldn’t keep up. Microsoft was down 0.5%; Meta Platforms was down 0.6%; Alphabet and Apple were down 1%; Amazon.com was down 1.1%; Nvidia was the biggest laggard with a decline of 1.2%.
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