Government investigations into Mr. Musk’s companies are stalling amid President Trump’s firings and Biden administration resignations.

Elon Musk has long railed against the U.S. government, saying a crushing number of federal probes and safety programs have stymied Tesla, his electric car company, and its efforts to create fleets of robotaxis and other self-driving automobiles.

Brian Mulberry, client portfolio manager at Zacks Investment Management, said that with Tesla CEO Elon Musk now "live-tweeting his current responsibilities inside the government," it's hard to avoid that "key man risk" that comes with Musk being so closely tied to the EV maker's brand.