Investors are concerned that Tesla CEO Elon Musk's focus on the Department of Government Efficiency could detract from his leadership at Tesla and SpaceX, resulting in significant losses for Tesla. The company's market value has plummeted over 40% this year, with declining vehicle sales and market share. Wall Street analyst Dan Ives warns of substantial damage to Tesla's brand and future sales, predicting a potential 15% to 20% drop. Despite the impact, Ives maintains Tesla's technological prowess, but urges a swift return to core operations to recover.
Teslaâs CEO Elon Muskâs involvement in the Department of Government Efficiency is raising concerns that it distracts from his commitment to Tesla, potentially harming the company's market value.
Dan Ives suggests that Musk is Tesla, and his focus on external projects could damage the company's reputation and sales significantly, potentially by 15% to 20%.
As Teslaâs shipments declined and its new vehicle launch was delayed, the future looks uncertain; Musk's return may need to happen soon to avoid irreversible damage.
Despite challenges, Ives acknowledges Tesla's underlying disruptive technology, stressing the importance of returning to core business to maintain competitive advantage amidst rising competition.
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