Elon Musk told to 'step up as Tesla boss' as patience wears thin

A long-time Wall Street supporter of Tesla has called on Elon Musk to "step up" as its CEO as patience seems to be growing increasingly thin with his handling of the company.

Musk seems to have completely taken his eye off Tesla and is focusing all of his efforts on leading the so-called Department of Government Efficiency (DOGE).

His recent comments and actions since taking an unelected prominent role in US politics have fuelled anger against his brand, so much so that its share price dropped by more than 15 per cent in less than a day on Monday (March 10).

Now Wedbush Securities analyst Dan Ives, one of Tesla's most prominent bulls, has uncharacteristically painted a damning picture to Tesla investors in a note shared online if things continue as they are.

Ives said: "The definition of balance: the ability to be steady, the equality of two sides and having different parts or elements properly or effectively arranged, proportioned.

"Musk needs to step up as Tesla CEO at this critical juncture.

"In a nutshell the word 'balance' has been missing with Elon Musk and his ability to run Tesla as CEO... While instead focusing all of his energy and time driving his DOGE initiative within the Trump Administration."

"The stock has been under massive pressure, down over 50 per cent from its highs in December and Tesla investors are seeing patience wear thin as Musk is not reading the room.

"We believe this is a 'moment of truth' for Musk and Tesla... If Musk continues to head down the DOGE path 110 per cent and showing no attention to Tesla during this turbulent time, then brand damage will become more pervasive."

Elon Musk has been told to 'step up as Tesla boss' / Andrew Harnik, Getty Images

Elsewhere, Musk faced a backlash on social media after sharing a Holocaust post and the grim reality of living near a SpaceX testing facility has been shared by Texas residents on TikTok.

How to join the indy100's free WhatsApp channel

Sign up to our free indy100 weekly newsletter

Have your say in our news democracy. Click the upvote icon at the top of the page to help raise this article through the indy100 rankings.