Dan Ives from Wedbush warns Elon Musk that his extensive involvement with the Department of Government Efficiency (DOGE) during the Trump administration is damaging Tesla's brand image. Ives describes the situation as a 'brand tornado crisis moment' and highlights the drop in Tesla's stock price, now around $230. He urges Tesla's leadership, including Musk, to step up and address these concerning developments while emphasizing the need for balance in Musk's roles at Tesla and DOGE.
Musk spending 110% of his time with DOGE has turned Tesla into a political symbol, leading to a brand tornado crisis moment.
Tesla's stock price has fallen to around $230, less than half its all-time peak of $480, highlighting the impact of Musk's political engagements.
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