Elon Musk announced plans to launch a new political party, which raised concerns among Tesla investors. Following this announcement, Tesla shares dropped nearly 7%, costing Musk $68 billion. Analyst Dan Ives warned that Musk's political pursuits could jeopardize Tesla's critical growth phase in autonomous vehicles, possibly costing the company up to $1 trillion in opportunities. Ives suggested that the Tesla board should implement strategies to limit Musk's political involvement and establish guidelines to protect the company and its investors.
Tesla is heading into one of the most important stages of its growth cycle with the autonomous and robotics future now on the doorstep and cannot have Musk spending more and more time creating a political party.
Having a beef with Trump will cost the company around $1 trillion opportunity in autonomous vehicles alone.
Some general guardrails on this front would help everyone involved, including institutional investors, retail investors, Musk himself, the Board, and Tesla employees around the world.
We believe the board now has to take the bull by the horns.
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