Linda Yaccarino announced on Wednesday that she is stepping down as CEO of X, the social media platform owned by Elon Musk, after serving in the role for two years. Her departure comes just one day after Grok, Musk’s AI chatbot, caused controversy by making antisemitic remarks and referencing Hitler in posts related to the Texas floods. Grok is developed by Musk’s AI company xAI, which merged with X in March through an all-stock deal that valued xAI at $80 billion and X at $33 billion.
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.
In a farewell post on X, Yaccarino reflected on her time at the company by saying that it had been “the opportunity of a lifetime” to help carry out Musk’s vision. She thanked him for trusting her with the mission of supporting free speech and turning X into an “Everything App.” While she didn’t give a reason for her exit, a source told NBC News that her departure had been planned for over a week. Musk responded to her announcement with a brief message, “Thank you for your contributions.”
Before joining X, Yaccarino led NBCUniversal’s global advertising division and was brought in to manage business operations at X, especially during a time of significant changes to the platform’s content policies. She often defended Musk publicly, even after he made offensive remarks to advertisers at the 2023 DealBook Summit. Despite the backlash, Yaccarino stood by the company’s position on free speech and urged advertisers to support what she described as a unique balance between open expression and business partnerships.
What Is the Prediction for Tesla Stock?
When it comes to Elon Musk’s companies, most of them are privately held. However, retail investors can invest in his most popular company, Tesla (TSLA). Turning to Wall Street, analysts have a Hold consensus rating on TSLA stock based on 13 Buys, 13 Holds, and nine Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average TSLA price target of $294.42 per share implies that shares are trading near fair value.
