One of Tesla's Biggest Supporters Is Running Out of Patience

Wall Street is getting increasingly frustrated with Tesla CEO Elon Musk, who has seemingly abandoned the carmaker in favor of spending most of his time gutting the federal government with the help of his so-called Department of Government Efficiency. Even one of the brand's most prominent bulls, Wedbush Securities analyst Dan Ives, is running out of patience. "Musk needs to step up as Tesla CEO at this critical juncture," Ives wrote in a note. "In a nutshell, the word 'balance' has been missing with Elon Musk and his ability to run Tesla as CEO... while instead focusing all of his energy and time driving his DOGE initiative within the Trump Administration." "There has been little to no sign of Musk at any Tesla factory or manufacturing facility the last two months and perception has become reality for Tesla shares," he wrote. It's a notable change in tune for one of the carmaker's biggest backers, highlighting the precariousness of the situation. Tesla sales have been driven off a ... Read full article.