Strong Words in Response to Wall Street Analyst's Advice
Elon Musk, CEO of Tesla, lashed out with strong language at a Wall Street analyst who advised him to stop engaging in political activities.
Dan Ives, an analyst at Wedbush Securities, offered three pieces of advice to Tesla's board of directors on July 8 (local time) via his X (formerly Twitter) account. Ives has been known for his optimistic outlook on Tesla.
Ives said, "The Tesla board must implement the following three actions," and continued, "First, they should prepare a new compensation package granting Musk 25% voting power, paving the way for a potential merger with xAI, the artificial intelligence startup founded by Musk."
He added, "Second, as part of the compensation package, guidelines should be established regarding the amount of time Musk is required to dedicate to Tesla," and "Third, his political activities should be monitored."
In response, Musk left a comment saying, "Shut up, Dan."
Previously, Ives had expressed concern in an investor memo about Musk's official announcement of the launch of the 'America Party,' marking a significant expansion of his political activities. Ives stated, "Musk's deeper involvement in politics and his apparent intent to take on the Washington political establishment is the exact opposite of what Tesla investors and shareholders want from him at this critical time for Tesla."
He further pointed out, "While Musk's core supporters will back him no matter what, there is growing fatigue among many Tesla investors over Musk's continued turn toward politics."
After Musk declared his intention to launch the America Party, Tesla's stock price on the New York Stock Exchange closed at $293.94 on July 7, down 6.79% from the previous trading day. Due to this decline, Tesla's market capitalization dropped by approximately $150 billion (about 206 trillion won) in a single day, reaching around $946.8 billion (about 1,300 trillion 335.1 billion won).
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