One of Tesla’s top Wall Street supporters says Elon Musk faces a ‘moment of truth’

An analyst who is one of the biggest boosters of Tesla on Wall Street says Elon Musk is facing a “moment of truth” at his EV company because of a “crisis” he’s created by spending so much in the Trump administration. The analyst, Wedbush’s Dan Ives, pleaded with Musk in a note published Thursday to reduce his role working with the Department of Government Efficiency (DOGE). “If you agree or disagree with DOGE it misses the point that by Musk spending 110% of his time with DOGE (and not as Tesla CEO) since President Trump got back into the White House this has essentially turned Tesla into a political symbol…. and this is a bad thing,” Ives wrote. This has led to what Ives described as a “brand tornado crisis moment for Musk and Tesla.” Ives’ plea comes as Tesla’s stock price has fallen to around $230 — less than half its all-time peak in late December of around $480, and lower than it was before Trump got elected. Protests against the company are growing worldwide, an the level of v ... Read full article.