An analyst who is one of Tesla’s biggest amplifiers in Wall Street says that Elon Musk is facing a “moment of truth” in his EV company because of a “crisis” he created, spending so much time on Trump’s administration.
Analyst, Dan Ives of Wedbush, begged Musk to a note published Thursday to reduce its role in cooperation with the Doge Department.
“If you agree or disagree with Doge, he loses the point that with Musk spending 110% of his time with Doge (and not as CEO Tesla) since President Trump returned to the White House, this was essentially transformed into Tesla into a political symbol … and that is bad,” Ives wrote. This led to what Ives described as “instant crisis for Musk and Tesla”.
Ives’ objection comes as Tesla’s shares has been reduced to about $ 230-less than half of the top of all time in late December about $ 480 and lower than before Trump’s election. Protests against the company are growing worldwide and the level of vandalism against Tesla’s vehicles and stores has increased so much that it has prompted the new administration to highlight actions as “domestic terrorism”.
Ives used a similar language in a note published Earlier in MarchBut he gathered it in a more optimistic tone, saying that he believed that the company was at the “start of the biggest cycle of innovation and technology in Tesla history”.
Thursday’s note was darker. While writing on X that Wedbush “was never more upset in Tesla’s future”, specifically called on the Musk and Tesla board to “accelerate, stop silent and help resolve this crisis”.
Ives did not invite Musk to give up — if another high-profile investor Tesla that once tried Get to the Tesla Board in 2023Ross gerber, it’s asking exactly that. Instead, Ives called on the Managing Director to announce that he would “balance” his roles in Doge and Tesla.
It also wants Musk to offer a more specific route map for the mysterious “more affordable models” that are supposed to debut at some point this year, as well as more details about his attempt to start a robot service.
If Tesla’s chief executive does these things, Ives wrote, “Heat from the Musk around Doge will begin to dissolve among most critics and this will leave a scar” but will not lead to “permanent brand damage”.
