An analyst who is one of Tesla’s biggest boosters on Wall Street said Elon Musk faces “real moments” at his electric vehicle company (EV) company because his “crisis” was caused by spending a lot of money in the Trump administration.
Analyst Wedbush’s Dan Ives publishing Thursday to reduce the role of working with the Ministry of Government Efficiency (DOGE).
“If you agree or disagree with Doge, you’ll miss the idea that Musk spent 110% of his time in Doge (rather than Tesla CEO), since President Trump returned to the White House, this has actually turned Tesla into a political symbol … and it’s a bad thing,” Ives wrote, leading to what Ives calls “a brand tornado crisis moment for Musk and Tesla.”
Ives’ plea comes after Tesla’s stock price fell to around $230, and its all-time high in late December was less than $480, lower than before Trump was elected. Protests against the company are growing globally, with the extent of disruption to Tesla vehicles and stores increasing so much that it prompted a new government to begin Tag the act as “family terrorism.”
Ives uses similar language in his comments published Early Marchbut disturbed it in a more optimistic tone, he believes the company is at the beginning of “the biggest innovation and technology cycle in Tesla’s history.”
Thursday’s notes were even more gloomy. Although he wrote on X that Wedbush “never bullish on Tesla’s future,” he specifically called on Musk and Tesla’s board of directors to “strengthen, stop, remain silent and help resolve the crisis.”
Ives didn’t call on Musk to resign – despite another high-profile Tesla investor once tried Join Tesla’s Board of Directors in 2023Ross Gerber, is Just a call. Instead, Ives urged the CEO to announce that he would “balance” his roles in Doge and Tesla.
He also hopes Musk provides a more specific roadmap for the mysterious “affordable model” It should debut sometime this yearand more details about its attempts to launch the Robotaxi service.
If the Tesla CEO does these things, Ives wrote, “the heat of the musk around Musk will start to dissipate most critics, which will leave scars” but will not cause “permanent brand damage.”
