Dan Ives Urges Elon Musk to Focus on Tesla Ahead of Earnings Call
Dan Ives highlighted on Sunday that Tesla Inc. TSLA and Nvidia Corp. NVDA rank among the most transformative tech companies in the world. However, he suggested that Elon Musk should step back from his government roles and reinvest his focus into Tesla.
What Happened: Ives recommended on X that Musk’s participation in Tesla’s upcoming earnings call is crucial.
According to Ives, “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.” This statement reflects increasing apprehension that Musk’s attention is straying from Tesla to his duties in the Department of Government Efficiency under former President Donald Trump.
Numerous reports indicate that Musk’s focus on DOGE has frustrated some investors, as they feel this distracts him from his responsibilities at Tesla. Recent speculation suggests that Musk’s governmental engagement may be nearing an end, which could allow him more time to commit to Tesla.
see also: Rivian’s ‘US-Centric’ Supply Chain Could Offer Edge Amid Trump’s Auto Tariffs, Says CEO RJ Scaringe
Why It Matters: Ives’ comments arrive at a pivotal moment for Tesla, which is set to announce its significant first-quarter earnings on Tuesday after the market closes.
Recently, Tesla’s stock has demonstrated resilience, closing around $241 on Thursday. Analysts are monitoring the stock closely for potential breakout signals. However, shares have declined by over 36% since the start of the year.
Disappointing delivery numbers raised concerns about Tesla’s upcoming performance. Ives, a well-known analyst, has affirmed an Outperform rating for Tesla while underscoring the necessity for Musk to confront the brand’s challenges. Wedbush maintains a $550 price target for the company’s stock.
Benzinga Edge Stock Rankings show Tesla has a Momentum score of 92.5 and a Growth score of 67.7. How does it fare against competitors in the EV market? Click here to explore.
For more of Benzinga’s Future Of Mobility coverage, follow this link.
Photo via Shutterstock.com
Read Next:
This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal
