Elon Musk's time as 'cost-cutter-in-chief' for the Trump administration has coincided with a $650 billion slump in the value of Tesla stock.

The electric car company continues to face massive challenges as evidenced by its disastrous first-quarter earnings.

Tesla has hit back following a Wall Street Journal report that its board had initiated a search for a new CEO to replace Elon Musk, taking to Musk’s social platform X to call the claim “absolutely false.”