In the wake of a difficult phase at Tesla Inc. (NASDAQ: TSLA), a group of leading pension funds is urging CEO Elon Musk to commit at least 40 hours a week to the automaker.

Tesla shares jumped nearly 7% on Tuesday to their highest level since early February, breaking out above a pennant and setting the stage for a new move higher. Monitor these major chart levels.

In media interviews on Tuesday, Musk reaffirmed his commitment to Tesla and said he'd be spending less on politics in the future.

Wedbush Securities Managing Director and Tesla Inc. (NASDAQ:TSLA) bull Dan Ives believes Elon Musk's EV giant is entering a golden era, following Musk's commitment to the brand. What Happened: "I believe that path to two trillion market cap is

Tesla shares slid Friday, but posted gains for the week and second straight month as CEO Elon Musk steps back from his role leading the cost-cutting Department of Government Efficiency.

Tesla stock saw a rally after falling over 1.65 per cent during regular trading on Tuesday, closing at $356.90.

Elon Musk's break with the Trump administration means investors will hope he refocuses on his sprawling empire as Tesla battles slumping sales and after SpaceX's latest rocket launch fell short of expectations.