Elon Musk 'Needs To Leave' The Government And Get Back To Being CEO Of Tesla, Says Dan Ives Ahead Of Q1 Earnings

Benzinga
2025.04.21 01:18
portai
I'm PortAI, I can summarize articles.

Dan Ives has urged Elon Musk to step back from government roles and focus on being the CEO of Tesla, especially ahead of the company's crucial Q1 earnings call. Ives highlighted Tesla and Nvidia as leading tech firms but expressed concerns that Musk's attention on government duties and DOGE is detracting from Tesla's performance. With Tesla's stock down over 36% this year and disappointing delivery numbers, Ives maintains an Outperform rating and a $550 price target for the company.

Dan Ives said on Sunday thatTesla Inc.TSLA andNvidia Corp. NVDAare among the most groundbreaking tech firms globally. However, Ives suggests thatElon Muskshould step back from governmental roles and refocus on Tesla.

What Happened: Ives took to X and highlighted the importance of Musk’s involvement in Tesla’s upcoming earnings call.

Ives stated, “Muskneeds to leave the govt,take a step back onDOGE, and get back tobeing CEO of Tesla full-timein our view.” This comment comes amid growing concerns about Musk’s attention being diverted from Tesla to his role in the Department of Government Efficiency under President Donald Trump.

We believe Tesla along with Nvidia are two of the most disruptive technology companies on the globe over the coming years. BUT….Musk needs to leave the govt, take a step back on DOGE, and get back to being CEO of Tesla full-time in our view. Big earnings call for Musk Tuesday

— Dan Ives (@DivesTech) April 21, 2025

Reports have indicated that Musk’s focus on DOGE has frustrated investors, as they believe it detracts from his responsibilities at Tesla. Recent discussions suggest that Musk’s role in the government might soon conclude, potentially allowing him to dedicate more time to Tesla.

See Also:Rivian’s ‘US-Centric’ Supply Chain Could Offer Edge Amid Trump’s Auto Tariffs, Says CEO RJ Scaringe

Why It Matters: Ives’ remarks come at a critical time for Tesla, as the company prepares for a significant first-quarter earnings call on Tuesday after market close.

Tesla’s stock has shown resilience, closing around $241 on Thursday, and analysts are closely watching for potential breakout signals. Even so, Tesla shares have fallen over 36% since the year began.

The company’s recent delivery numbers were disappointing, leading to concerns about its future performance. Ives, a prominent analyst, has reiterated an Outperform rating on Tesla, emphasizing the need for Musk to address the brand crisis. Wedbush has a $550 price target for Tesla.

Benzinga Edge Stock Rankings indicate Tesla has a Momentum of 92.5 and Growth of 67.70. How does it compare with others in the EV landscape? Click here and discover for yourself.

Check out more of Benzinga's Future Of Mobility coverage byfollowing this link.

Photo via Shutterstock.com

Read Next:

  • DHL Says It’s Suspending Global Shipments To US Valued More Than $800 As Customs Updates Cause Multi-Day Transit Delays

This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

Source: Benzinga The copyright of this article belongs to the original author/organization.
The views expressed herein are solely those of the author and do not reflect the stance of the platform. The content is intended for investment reference purposes only and shall not be considered as investment advice. Please contact us if you have any questions or suggestions regarding the content services provided by the platform.