As Tesla's stock fell sharply on Monday, a veteran investor, such as Ross Gerber, CEO of Gerber Kawasaki Wealth Management, and Dan Ives, an analyst at Wedbush Securities, criticized Elon Musk's return to politics and questioned the inaction of Tesla's board of directors.
Gerber criticized Tesla's board on the social media platform X, calling it "a joke."
"They are Elon's vampires who feed on Tesla shares. They do nothing and say nothing," Gerber said, then added that no one would support "Elon First" party, referring to Musk's planned "America Party."
Ives shared his thoughts in an interview on Monday. When asked about Musk's return to politics, Ives said, "It is the exact opposite of what you want to see from him."
The consistently bullish analyst added that Musk could become an "enemy" of Trump and the Republican Party, which is something Tesla investors do not want to see. Ives acknowledged that Musk's political activities have put pressure on Tesla's stock.
He said, "People are worried about what this means for regulation and Trump if Musk continues down this path." However, Ives also admitted that Trump and the Republican Party hope Musk joins their side.
When talking about Tesla's board, Ives said, "The board will have to take some action in this situation," and he mentioned Musk's past relationship with DOGE (Department of Government Efficiency). He said, "At the height of the DOGE controversy, the board issued some suggestions or warnings."
Ives said, "You can't let Musk start his own party while continuing to serve as CEO of Tesla." Ives' words might be a bit harsh, as he usually takes an optimistic view of this electric vehicle giant.
This article is sourced from Financial Times
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