Wedbush sees ‘tipping point in Tesla story’ after Musk announces new party

Wedbush notes that after leaving the Trump Administration and DOGE a few months ago, Elon Musk is officially launching a new U.S. political party called the “America Party.” The party would caucus independently and that legislative discussions would be had with both parties Musk said. In a nutshell, the firm believes this is “a tipping point in the Tesla (TSLA) 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. 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 which will require countless time, energy, and political capital, Wedbush argues. The firm has an Outperform rating on the shares with a price target of $500.