The stock got a fresh boost on Friday as the US Department of Transportation announced looser rules for self-driving cars.

Elon Musk told Tesla shareholders that he was ready to shift his focus away from the Trump-ordained "Department of Government Efficiency," otherwise known as DOGE, and return to his other business investments.

Even the perma-bull crowd of analysts covering Tesla warned of sorely disappointing results in Q1, a view signaled by the poor deliveries for the quarter reported in early April. But the numbers released after the market close on April 22 were much,

Transportation Secretary Sean Duffy said the U.S. is in a race against China and U.S. automakers need less red tape.

The Trump administration is loosing rules to help U.S. automakers like Elon Musk’s Tesla develop self-driving cars so they can take on Chinese rivals.

The Trump administration will make it easier to deploy self-driving cars on US roads and loosen crash reporting requirements, the most significant changes yet to federal rules on autonomous vehicles championed by Tesla chief executive Elon Musk.