Daniel Ives, a well-known Tesla supporter and analyst at Wedbush Securities, has issued a strong warning about Tesla CEO Elon Musk. He says he has reached a pivotal moment of truth.
In a report from TechCrunch, Ives criticized Musk’s significant involvement in political matters, specifically his connections with the Trump administration. He argued that this has made Tesla a political lightning rod, calling the situation a brand tornado crisis.
In a memo released the same day, Ives urged Musk to scale back his role with the Department of Government Efficiency (DOGE) and refocus on his duties as Tesla CEO. Musk dedicating 110% of his time to DOGE is detrimental to Tesla,” Ives warned.
Ives stressed that Musk must provide more detailed plans for Tesla’s upcoming affordable electric vehicle models and its robotaxi service. He added that if Musk takes these actions, DOGE’s criticism will subside. While it may leave a mark, it won’t cause permanent brand damage. Ives emphasized the importance of swift action to safeguard Tesla’s brand from further harm.
This warning comes when Tesla’s stock price has fallen to $230, less than half of its peak of $480 in December of the previous year. Global protests against Tesla have been rising, and with increasing incidents of damage to Tesla vehicles and stores, the Trump administration has classified these actions as domestic terrorism.
