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$Tesla (TSLA.US)$ Seems to be hovering at 427 for night mark...
$Tesla (TSLA.US)$ Seems to be hovering at 427 for night market.
Elon Musk as Speaker of the House.
Thursday morning, Sen. Rand Paul, a Kentucky Republican, tweeted out a radical idea: Elon Musk as speaker of the house. "Nothing would disrupt the swamp more than electing Elon Musk...think about it...nothing's impossible," say the tweets. "Not to mention the joy at seeing the collective establishment, aka 'uniparty,' lose their ever-lovin' minds."
Paul's office didn't immediately respond to a request for comment.
As Paul tweeted, it is possible. "The Constitution does not require that the Speaker be a member of Congress," says Carl Tobias, Williams chair of law at the University of Richmond. But someone who isn't a member has never been speaker, he said.
Tesla didn't immediately respond to a request for comment about the idea.
For Tesla, and Tesla investors, the speakership would amount to another claim on Musk's limited time. Along with Tesla, he already runs SpaceX, xAI, X, and other companies, and will co-head the newly formed Department of Government Efficiency for President-elect Donald Trump.
Serving as speaker would be a significant commitment. The House of Representatives is in session, very roughly, for half of the year. The speaker controls the order of business on the House floor as well as liaising between the House, Senate, and executive branch.
Losing a CEO for half the year isn't optimal, but it is possible some investors would be OK with the idea. Tesla has been helped by politics lately. Shares are up more than 70% since the Nov. 5 election. Investors expect Musk's budding relationship with President-elect Trump to benefit the company.
The most frequent issue cited by Wall Street analysts is self-driving cars. Tesla plans to launch a self-driving robotaxi service in late 2025, and Trump could introduce policies and regulations that would make it easier to operate self-driving vehicles around the nation.
The 'X-effect' shouldn't be underestimated, either. Musk has about 208 million followers on X who read his views, many of whom support his political leanings. A lot of those people, some with hundreds of thousands of followers, identify themselves as Tesla shareholders.
And small shareholders have a significant voice at Tesla. Some 40% of the Tesla shares available for trading are held by smaller investors, according to Bloomberg. The average for other large technology stocks is closer to 20%.
All that means there could be a large portion of Tesla's shareholder base that supports the idea. Still, investors don't seem to be taking the matter seriously. Tesla stock was up early after the tweet, before shares reversed direction and were down 1.6% in afternoon trading at $433.22. The S&P 500 and Dow Jones Industrial Average were up about 0.4% and 0.6%, respectively.
"Musk will play a major role this White House but Speaker of the House is a Netflix show and not a reality for Elon," says Wedbush analyst Dan Ives. He rates Tesla stock at Buy and has a target of $515 for the price.
Paul's office didn't immediately respond to a request for comment.
As Paul tweeted, it is possible. "The Constitution does not require that the Speaker be a member of Congress," says Carl Tobias, Williams chair of law at the University of Richmond. But someone who isn't a member has never been speaker, he said.
Tesla didn't immediately respond to a request for comment about the idea.
For Tesla, and Tesla investors, the speakership would amount to another claim on Musk's limited time. Along with Tesla, he already runs SpaceX, xAI, X, and other companies, and will co-head the newly formed Department of Government Efficiency for President-elect Donald Trump.
Serving as speaker would be a significant commitment. The House of Representatives is in session, very roughly, for half of the year. The speaker controls the order of business on the House floor as well as liaising between the House, Senate, and executive branch.
Losing a CEO for half the year isn't optimal, but it is possible some investors would be OK with the idea. Tesla has been helped by politics lately. Shares are up more than 70% since the Nov. 5 election. Investors expect Musk's budding relationship with President-elect Trump to benefit the company.
The most frequent issue cited by Wall Street analysts is self-driving cars. Tesla plans to launch a self-driving robotaxi service in late 2025, and Trump could introduce policies and regulations that would make it easier to operate self-driving vehicles around the nation.
The 'X-effect' shouldn't be underestimated, either. Musk has about 208 million followers on X who read his views, many of whom support his political leanings. A lot of those people, some with hundreds of thousands of followers, identify themselves as Tesla shareholders.
And small shareholders have a significant voice at Tesla. Some 40% of the Tesla shares available for trading are held by smaller investors, according to Bloomberg. The average for other large technology stocks is closer to 20%.
All that means there could be a large portion of Tesla's shareholder base that supports the idea. Still, investors don't seem to be taking the matter seriously. Tesla stock was up early after the tweet, before shares reversed direction and were down 1.6% in afternoon trading at $433.22. The S&P 500 and Dow Jones Industrial Average were up about 0.4% and 0.6%, respectively.
"Musk will play a major role this White House but Speaker of the House is a Netflix show and not a reality for Elon," says Wedbush analyst Dan Ives. He rates Tesla stock at Buy and has a target of $515 for the price.
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