Tesla Retail Traders Mostly Buying After Elon Musk Commits To 5 More Years As CEO: Stocktwits Poll

Retail traders are opting to scoop up more Tesla stock after CEO Elon Musk confirmed last week that he will steer the electric vehicle maker for at least five more years.

Tesla shares closed at $339.34 on Friday, down 0.50% or $1.70 for the day.

In a Stocktwits poll that drew 1,900 votes, 50% of retail participants said they are “buying” with long-term confidence, citing Musk’s leadership as a stabilizing force. 

Another 14% said they are holding, awaiting major catalysts such as the anticipated Robotaxi launch. 

However, 22% are choosing to unload the stock, citing concerns about Musk’s unpredictability and Tesla's volatile fundamentals. 

Another 14% are avoiding the stock due to perceived noise and better opportunities elsewhere.

Musk made his remarks during Bloomberg’s Qatar Economic Forum in Doha, where he stressed the importance of retaining “reasonable control” over Tesla’s future. 

“It’s not a money thing,” Musk said. “It’s a reasonable control thing over the future of the company.”

His comments follow investor concerns about divided focus, with Musk also advising President Donald Trump’s Department of Government Efficiency (DOGE). 

On Tesla’s latest earnings call, he said his involvement there would taper down to just “a day or two per week” moving forward.

Tesla is grappling with weakening fundamentals. For Q1 2025, the company reported a 20% drop in automotive revenue and a 71% plunge in net income.

On Friday, Tesla’s most prominent bullish voice on Wall Street bumped up its price target on the EV maker’s stock to $500, saying the “dark chapter” since the start of this year is “in the rear-view mirror” with Musk pulling back from his DOGE role.

Tesla’s stock has declined 10.5% in 2025, underperforming the S&P 500’s 1.1% loss.

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