Tesla (TSLA) CEO Elon Musk is involved in a new war of words, this time with popular technology analyst Dan Ives.
Don’t Miss TipRanks’ Half-Year Sale
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Musk told Wedbush Securities’ Dan Ives to “shut up” after the analyst offered three recommendations to the electric vehicle maker’s board of directors. Ives, who is known as a TSLA stock bull with a Street high price target on Tesla shares of $500, expressed concern on social media over Musk’s ongoing political activities and plans to start a new U.S. political party called the “America Party.”
Ives called for Tesla’s board of directors to create a new pay package for Musk that would get him 25% voting control and clear a path to merge with xAI, establish “guardrails” for how much time Musk has to spend at Tesla, and provide “oversight on political endeavors.” The recommendations came after TSLA stock fell 7% on July 7, wiping $68 billion off the company’s market capitalization.
As one might imagine, Ives suggestions did not go over well with Musk.
‘Shut up, Dan’
Musk responded to Ives on X, formerly Twitter, by simply writing, “Shut up, Dan.” Ives did not seem to take Musk’s suggestion. Instead, the Wedbush analyst published a longer note with other analysts from his firm headlined, “The Tesla board MUST Act and Create Ground Rules For Musk; Soap Opera Must End.” The analysts said Musk’s plans to form a new political party have caused a “tipping point” for Tesla.
Despite the criticisms and board suggestions, Ives maintained his $500 price target and Buy recommendation on TSLA stock. However, it didn’t take long for Musk to clapback at Ives and dismiss his suggestions with a curt Tweet. It is not clear if this latest public feud will escalate further. The drama comes with TSLA stock down 26% on the year.
Is TSLA Stock a Buy?
The stock of Tesla has a consensus Hold rating among 35 Wall Street analysts. That rating is based on 13 Buy, 13 Hold, and nine Sell recommendations issued in the last three months. The average TSLA price target of $294.00 implies 0.02% upside from current levels.
