Elon Musk told Wedbush Securities tech analyst Dan Ives to “shut up” after Ives called on Tesla’s board to ensure Musk spends less time on political activism.
Why it matters: The exchange highlights growing concerns among investors that Musk’s political activities could distract him from his role as Tesla’s CEO at a critical time for the company.
The details:
- Ives argues Tesla’s stock should be valued at $620, with a market cap of $2 trillion, more than double its current worth.
- Musk dismissed Ives’ proposal for a special oversight committee to monitor his political activities.
- Tesla’s stock closed at $293 a share, its lowest point since Musk’s fallout with President Donald Trump over tax cuts and a spending bill.
Musk recently expressed aims to create a movement capable of disrupting the political duopoly in Washington.
What they’re saying:
- “Shut up, Dan,” Musk said, dismissing Ives’ proposal.
- “You don’t babysit Elon,” Tesla stock influencer Dave Lee tweeted, emphasizing the unique role Musk plays at Tesla.
- “We believe this is a tipping point in the Tesla story,” Ives warned, urging the board to refocus Musk’s efforts on the company.
Tesla has yet to announce a date for its annual shareholder meeting, further fueling investor concerns.
The big picture: Musk’s public rebuke of Ives occurs amid growing worries that his political activism could take priority over his business responsibilities at a crucial time for Tesla.
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