Tesla shareholders WORRIED about Musk’s third party
Details
| Title | Tesla shareholders WORRIED about Musk’s third party |
| Author | Washington Post Universe |
| Duration | 1:08 |
| File Format | MP3 / MP4 |
| Original URL | https://youtube.com/watch?v=30qQno0anNk |
Description
Longtime supporters of Tesla appealed to the company’s board Monday to pull CEO Elon Musk’s attention back to the embattled electric vehicle company, as the entrepreneur appeared to renege on an April pledge to spend more time at the company by saying he would start a new political party.
“The board can’t just sit here and watch this go by without saying something and putting guardrails in,” said Dan Ives, managing director of Wedbush Securities, who has consistently expressed a bullish outlook on Tesla and Musk’s leadership. “I’m hearing from many shareholders that the frustration is hitting a tipping point.”
Tesla’s stock closed about 7 percent lower Monday, after Musk declared in social media posts over the weekend that he was creating a political party amid his escalating feud with President Donald Trump — and claimed his America Party would target next year’s midterms.
