Tesla investor Wedbush analyst Dan Ives has expressed frustration with Elon Musk’s recent behavior, urging him to “balance his time” as CEO and focus on the company’s operations. Ives’ note comes after a tumultuous week for Tesla, marked by protests at dealerships and customers selling off their vehicles.
Ives warned that investor patience is wearing thin amid Musk’s foray into politics, which has led to a backlash against the brand. Musk’s appearances on Fox News and with Trump have been seen as exacerbating concerns among investors, who are growing concerned about his ability to run Tesla effectively while juggling multiple business ventures.
Ives emphasized that Musk needs to “step up” and prioritize Tesla’s operations over his other interests. He noted that investors own the company because of Musk’s vision, not because he runs Dogecoin (DOGE). The analyst maintains an “outperform” rating for Tesla but highlighted the need for Musk to refocus on the company’s future.
Despite this, Ives remains optimistic about Tesla’s prospects, forecasting a price increase to $550 in 12 months. However, his comments underscore the importance of Musk’s leadership and his ability to balance competing interests to ensure Tesla’s success.
Source: https://fortune.com/2025/03/11/tesla-bull-wedbush-dan-ives-change-of-tone-warns-elon-musk-patience-wearing-thin