Elon Musk is under increasing scrutiny to prioritize his role as CEO of Tesla over his involvement with DOGE, particularly as the company faces poor sales and protests. Analyst Dan Ives described the situation as a "code red," urging Musk to focus solely on Tesla ahead of an important earnings report. With a significant drop in Tesla's stock price and lower-than-expected sales, coupled with concerns about political implications, investors are worried about the company's brand reputation and future performance.
"Musk needs to leave the government, take a major step back on DOGE, and get back to being CEO of Tesla full-time," noted Wedbush analyst Dan Ives in a recent report.
"This is not the first time he has called on the billionaire to step back from his DOGE work... Tesla has had a difficult few weeks, with first-quarter sales coming in way under expectations."
"Wedbush cut its 12-month price target for Tesla stock from $550 to $315 last week, citing a growing 'political symbol' status for the company."
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