Elon Musk informed Tesla’s greatest cheerleader on Wall Road, Wedbush analyst Dan Ives, to ‘shut up’ and the rationale why is completely ridiculous.
Dan Ives is without doubt one of the greatest pushers of Tesla’s inventory on Wall Road. The Wedbush analyst can typically bee seen on CNBC praising Tesla and its CEO, Elon Musk.
He has one of many highest value targets on Tesla on Wall Road with $500 value per share.
After Tesla’s deliveries got here method below his expectations and down 13% year-over-year within the first quarter, he reiterated his value goal, which might worth Tesla at over $1.5 trillion.
That’s regardless that Tesla’s web earnings have steadily declined during the last 2 years, and it’s on observe to begin shedding cash throughout the subsequent yr.
Ives’ religion in Tesla inventory is solely primarily based on Musk and his guarantees of self-driving automobiles and robots. Simply final month, he stated that “Musk is the very best asset of Tesla. We see him as CEO till 2030.”
You’d assume that Musk would really like this man, however no.
Ives took to X right now to counsel that Tesla’s board ought to give Musk a brand new pay bundle giving him 25% management over the corporate.
If that have been to be given by means of extra inventory choices, it might just about double his stake in Tesla and signify a $200 billion payday for Musk. In change, Ives is just suggesting that Musk, who runs a number of different corporations and initiatives, ought to decide to spending a sure period of time at Tesla and that the board has oversight on his involvement in politics.
In response to the analyst, who’s one in all Musk’s greatest followers and is suggesting Tesla offers him $200 billion, Musk informed him to “shut up”:
Musk is seen as having full management over Tesla’s board, which led to the rescinding of his 2018 CEO compensation bundle. One of many factors that the decide introduced up was that Tesla by no means even negotiated with Musk about committing his time at Tesla as a part of the compensation bundle regardless of figuring out the CEO already had roles at a number of different corporations.
Now, Musk can be launching his personal political social gathering, along with his roles at SpaceX, X, xAI, The Boring Firm, and Neuralink.
Electrek’s Take
Even Dan, who’s a whole Musk sycophant, isn’t a large enough sycophant for Musk.
How do you inform a man suggesting Tesla provide you with $200 billion to “shut up” simply because he added some very delicate situations? What’s his considering right here? How dare he ask the board to do its job and supervise me? Doesn’t he know that I personal the board?
The outstanding factor is that you recognize Musk may simply circumvent any situations imposed by the board, and the mere indisputable fact that these situations would have been within the contract may have helped it keep away from being rescinded within the first place.
Musk’s conduct is not sensible. Truthfully, he seems to be more and more disconnected from actuality.
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