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An analyst who is one of the biggest boosters of Tesla on Wall Street says Elon Musk is facing a “ present moment of truth ” at his EV caller because of a “ crisis ” he ’s created by spending so much clock time in the Trump administration .
The analyst , Wedbush ’s Dan Ives , pleaded with Musk in a notepublishedThursday to reduce his character run with the Department of Government Efficiency ( DOGE ) .
“ If you agree or disagree with DOGE it misses the compass point that by Musk spending 110 % of his clip with DOGE ( and not as Tesla CEO ) since President Trump get back into the White House this has fundamentally turned Tesla into a political symbolic representation … . and this is a bad thing , ” James Merritt Ives wrote . This has lead to what Ives described as a “ brand twister crisis moment for Musk and Tesla . ”
Ives ’ plea comes as Tesla ’s stock price has fallen to around $ 230 — less than half its all - clock time peak in late December of around $ 480 , and lower than it was before Trump got elected . protestation against the company are growing worldwide , and the level of vandalism against Tesla ’s vehicles and stores has increase so much that it move the raw establishment tolabel the actions as “ domestic terrorism . ”
James Ives used similar oral communication in a note publishedearlier in March , but redact it in a more optimistic tone , saying he believed the troupe was at the “ starting time of the great design and technology cycle in Tesla ’s history . ”
Thursday ’s note was more drab . While he write on X that Wedbush has “ never been more bullish on Tesla ’s future , ” he specifically called on Musk and Tesla ’s instrument panel of director to “ step up , stop being silent , and aid resolve this crisis . ”
Ives did n’t call on Musk to step down — although another high - profile Tesla investor who once hear toget on Tesla ’s instrument panel in 2023 , Ross Gerber , iscalling for just that . alternatively , Ives urged the chief operating officer to announce he will “ equilibrate ” his theatrical role at DOGE and Tesla .
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He also want Musk to offer a more concrete roadmap for the occult “ more affordable models ” thatare suppose to debut at some level this year , as well as more detail on its endeavor to plunge a robotaxi service .
If the Tesla CEO does those things , Ives wrote , the “ heat from Musk around DOGE will start to dissipate among most of the critics and this will leave a scrape , ” but wo n’t lead to “ lasting steel harm . ”
