Wedbush MD Dan Ives has said on X (formerly Twitter) that the Tesla CEO Elon Musk ‘needs to leave’ the Trump administration. The comments come a day ahead of the electric vehicle maker’s Q1 earnings. Ives said that the Wall Street’s favorite analyst Wedbush believes Tesla and Nvidia are “two of the most disruptive” tech companies of the world. But, he added “Musk needs to leave the govt, take a step back on DOGE, and get back to being CEO of Tesla full-time in our view”.
Tesla’s stock ended at around $241 on April 17 last week. The stock is down more than 36% since the start of the year.
In the post, Ives wrote: “We believe Tesla along with Nvidia are two of the most disruptive technology companies on the globe over the coming years. BUT….Musk needs to leave the govt, take a step back on DOGE, and get back to being CEO of Tesla full-time in our view. Big earnings call for Musk Tuesday”.
Elon Musk must ‘choose’ between Tesla or Trump
Elon Musk is currently leading the Department of Government Efficiency (DOGE). He has reportedly faced criticism for his increased involvement in the Trump administration and overlooking Tesla. According to reports, Tesla investors are frustrated with Musk’s behavior.
Tesla Bull Ross Gerber called for Musk’s exit from the company last week. Stating that the Tesla CEO has lost focus given his widening interests, Gerber noted that Tesla needs a new CEO. He said that “the company’s reputation has just been destroyed by Elon Musk”.
Gerber said: “It’s time for somebody to run Tesla. The business has been neglected for too long. There are too many important things Tesla is doing, so either Elon should come back to Tesla and be the CEO of Tesla and give up his other jobs or he should focus on the government and keep doing what he is doing but find a suitable CEO of Tesla.”
He further blamed social media posts and involvement with the president Donald Trump for bringing negative publicity to the company. He also described Tesla’s current situation as a “crisis”, pointing to its declining sales. He said “Sales are plummeting so, yeah, it’s a crisis. You literally can’t sell the best product in the market place because the CEO is so divisive.”
