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Wall Street goes off on Tesla board, calls to rein in Musk

Wall Street goes off on Tesla board, calls to rein in Musk, and act now
Paul L.
Stocks

Dan Ives, a leading Tesla (NASDAQ: TSLA) bull on Wall Street, has suggested that it’s time for the company’s board to take action to rein in CEO Elon Musk’s increasing political focus.

The call comes just days after Musk revealed plans to launch a new political movement dubbed the “America Party,” a move seen as diverting his attention from Tesla’s critical business roadmap. 

The renewed political focus rattled investors, sending TSLA shares down nearly 7% to $293.94 at close of the Monday trading session. 

TSLA one-day stock price chart. Source: Finbold

Now, Ives of Wedbush Securities has called the current moment a “tipping point” for the electric vehicle giant.

“We believe this is a tipping point in the Tesla story and ultimately the Tesla Board needs to act now and set the ground rules for Musk going forward around his political ambitions and actions,” Ives said. 

In a Tuesday note, Ives urged Tesla’s board to adopt a three-point plan to protect the company as it pivots to autonomous tech and robotics. 

Ives’ three-agenda proposal to Tesla board 

He called for finalizing Musk’s pay package to secure 25% voting control, potentially enabling a merger with xAI, setting clear time commitments for Musk at Tesla, and establishing oversight of his political involvement to avoid distractions.

Ives emphasized that strong leadership and disciplined governance are more crucial than ever. He urged the board to set enforceable boundaries that enable both Musk and Tesla to thrive without getting bogged down in political distractions.

It’s worth noting that Ives had turned bullish on Tesla after Musk exited his advisory role under the Department of Government Efficiency, signaling he would refocus on the company. 

Notably, Musk’s renewed political push follows a fallout with President Donald Trump over the “Big Beautiful Bill,” which Musk claims would worsen the national debt, something he hopes to address through his new party platform.

As reported by Finbold, Ives said Musk’s persistent political engagement is creating a “sense of exhaustion” among investors.

Featured image via Shutterstock

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