Elon Musk Soap Opera Must END, says Tesla Bull Dan Ives
officially announced a new political party called the 'America Party'. The stock fell nearly 7%, raising new concerns among investors about Musk's continued focus on Tesla.
Tired of too many ads? go ad free now
Wedbush Securities analyst
Dan Ives
urged the company's board of directors to 'act and create ground rules for Musk'. In a client note, he wrote 'The
Tesla
Board MUST act and create ground rules for Musk', adding 'The soap opera must end.'
Tesla can't afford a distracted CEO: Dan Ives
According to Ives, 'Tesla is heading into one of the most important stages of its growth cycle… and cannot have Musk spending more and more time creating a political party which will require countless time, energy, and political capital.'
He further warned: 'Going after a handful of seats in the Senate and House heading into the 2026 mid-terms would essentially make Musk a foe of Trump and the Republican party ... which is exactly the opposite of what Tesla shareholders want to see with a very important autonomous regulatory framework now on the horizon during the Trump Administration.'
Tesla Bull lays out three-point plan for Tesla
In the note, Ives proposed a three-point action plan for Tesla board – Link Musk's pay to a clear time commitment at Tesla, form a board committee to monitor his political involvement, and if needed, offer more
Tesla shares
based on his actual involvement in the company.
He wrote: 'The Board cannot control Musk's donations … but they can have oversight if his political ambitions/endeavors interfere with his role as CEO of Tesla,' He wrote. 'The Board now has to take the bull by the horns.'
'Tesla needs Musk as CEO for another five years at least given how important of a role Musk will play in the autonomous and robotics future of Tesla,' Ives added.
Other Tesla investors urge board to act
James Fishback, CEO of investment firm Azoria and a major Tesla shareholder, pulled plans to launch a Tesla-focused ETF following Musk's announcement.
Tired of too many ads? go ad free now
In a letter to Tesla's board, he said Musk's political involvement 'creates a conflict with his full-time responsibilities as CEO of Tesla.'
'Elon is free to burn his own money on the ridiculous stunt that is the
America Party
,' Fishback posted on X. 'He is not free to drag shareholders down with him. Elon is a visionary CEO. He needs to focus on Tesla, not on President Trump.'
OnePlus Nord 5 review: Is This the Best Phone Under Rs 35K?
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Mint
27 minutes ago
- Mint
Trump backs new Russia sanctions bill that could place 500% tariff on India
US President Donald Trump said on Tuesday that he would strongly consider backing a new Russia sanctions bill that aims to force Russian President Vladimir Putin to negotiate an end to the Ukraine war. The bill, which was introduced in the US Senate earlier this year, proposes a 500% tariff on countries like India which purchase Russian energy products. 'I'm looking. It's totally at my option. They pass it totally at my option, and to terminate totally at my option. And I'm looking at it very strongly,' said Trump on Tuesday to reporters during a Cabinet meeting. The American leader also expressed mounting frustration at Russia's Putin for refusing to end the conflict with Ukraine. Trump recently directed the America's Defence Department to send more defensive weapons to Ukraine. The Sanctioning Russia Act of 2025 was introduced in the US Senate in April this year by Senator Lindsey Graham, a close political ally of President Trump. The bill proposes steep 500% American tariffs on goods and services exports from countries that purchase Russian-origin oil, natural gas, uranium and petroleum products. It also pushes for expanded sanctions against Russian businesses, government institutions and top policymakers. Senator Graham, who is steering the bill through Congress, has said the bill will target countries like India and China. 'I've got 84 co-sponsors for a Russian sanctions bill that is an economic bunker buster against China, India, and Russia for Russia's brutal invasion of Ukraine. I think that bill's going to pass,' Graham said in a television interview in June. With President Trump's backing, the bill could move fast. Republican Senate Majority Leader John Thune said there was 'a lot of interest' in the new Russia sanctions bill and said more announcements could be made later this week. The proposed bill allows the President of the United States to issue a one-time waiver of 180 days to a particular country in case ' the President determines that such a waiver is in the national security interests of the United States'. According to reports in the American media, the bill is being changed to allow the President to issue a waiver a second time. India was the second largest buyer of Russian fossil fuels in May , according to the Centre for Research on Energy and Clean Air. It estimated that India purchased fossil fuels worth €4.2 billion from Russia in May, with crude oil amounting to 72% of the total. India is closely tracking the bill and the Indian Embassy is in touch with Senator Graham regarding the bill, said External Affairs Minister S Jaishankar during his visit to Washington earlier this month. 'Regarding Senator Lindsey Graham's bill, obviously, any development, which is happening in the US Congress is of interest to us, if it impacts our interest or could impact our interest. So we have been in touch with Senator Graham. The embassy and the ambassador have been in touch. I think our concerns and our interests on energy security have been made conversant to him, so we'll then have to cross that bridge if we come to it,' Jaishankar told reporters in Washington.
Mint
28 minutes ago
- Mint
Six US Secret Service agents suspended for lapse during Donald Trump Butler assassination attempt
Six Secret Service agents have been suspended without pay for lapses connected to last year's assassination attempt on US President Donald Trump during a rally in Butler, Pennsylvania. According to Secret Service Deputy Director Matt Quinn, the suspensions range from 10 to 42 days. While the agents will not be dismissed, they will be reassigned to roles with reduced operational responsibilities once they return to duty, the New York Post reported. 'We aren't going to fire our way out of this,' Quinn told the outlet. 'We're going to focus on the root cause and fix the deficiencies that put us in that situation.' During a campaign rally at the Butler Farm Show grounds on July 13, 2024, Trump, then the presumptive Republican nominee, was grazed in the ear by a bullet fired by 20-year-old would-be assassin Thomas Matthew Crooks. The shot left Trump visibly bloodied. Firefighter Corey Comperatore was fatally shot while protecting his family, and two others sustained serious injuries. Crooks had positioned himself on an unsecured rooftop with a direct view of the stage before being neutralized by a Secret Service sniper. A second assasination attempt against Trump took place two months later at the president's Palm Beach, Fla., golf course. 'Butler was an operational failure and we are focused today on ensuring that it never happens again,' Matt Quinn told CBS News. However, earlier in September 2024, in a post on his own social media platform, Truth Social, Donald Trump thanked the US Secret Service and other law enforcement officials for keeping him safe during the assassination attempt. 'THE JOB DONE WAS ABSOLUTELY OUTSTANDING. I would like to thank everyone for your concern and well wishes — It was certainly an interesting day! Most importantly, I want to thank the US Secret Service, Sheriff Ric Bradshaw and his Office of brave and dedicated patriots, and, all of the law enforcement, for the incredible job done today at Trump International in keeping me, as the 45th President of the United States, and the Republican nominee in the upcoming presidential election, SAFE,' he wrote.
Economic Times
31 minutes ago
- Economic Times
‘Fantastic leader for NASA': Trump taps Sean Duffy as interim space chief, drops Musk ally Isaacman
US President Donald Trump has appointed Transportation Secretary Sean Duffy as the interim NASA administrator, filling a key leadership gap after withdrawing Elon Musk ally Jared Isaacman. Announced via Truth Social on July 9, Trump praised Duffy's work modernising transportation and called him a 'fantastic leader' for the space agency. The move comes amid growing Trump-Musk tensions and rising political influence over NASA's direction, as the agency faces global space rivalries and major missions ahead. Show more 03:04 04:40 02:49 02:19 02:09 04:30 07:24 02:57 08:58 13:29 09:30 09:41 11:11 04:05 03:10 03:03 08:17 04:16 02:31 02:05 03:12 02:45 05:45 09:07 09:12
