Tesla stock: Due to Musk’s Twitter distraction, Wedbush removes Tesla stock from its list of “Top Picks” despite a CPI boost.

Elon Musk’s Twitter antics have taken a toll on Tesla’s stock, prompting Wedbush analyst Dan Ives to remove the electric carmaker from his ‘best ideas’ list. The CEO’s $44 billion takeover of Twitter is causing concern among investors, as the ongoing social media drama casts a shadow over Tesla’s prospects. In this article, we’ll delve into the impact of Musk’s Twitter activity on Tesla’s stock, the reasons behind the removal from the ‘best ideas’ list, and the implications for the company’s future.

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Elon Musk’s influence on Tesla’s stock is undeniable, but recently, his Twitter activity has led to increased volatility and concerns among investors. The connection between Musk’s actions on social media and the performance of Tesla’s stock has prompted analysts to reassess their outlook on the company.

Musk’s Twitter Train Wreck Disaster

Elon Musk’s prolific use of Twitter has often garnered attention, both positive and negative. However, his recent tweets have stirred significant controversy, leading to what some are calling a “Twitter train wreck disaster.” The ongoing drama surrounding his social media presence has led to questions about its impact on Tesla’s reputation and stock performance.

Wedbush Analyst’s Perspective

Wedbush analyst Dan Ives, a longtime bull for Tesla, has made a surprising move by removing the electric carmaker from his ‘best ideas’ list. Ives believes that Musk’s involvement in the $44 billion takeover of Twitter has become an “albatross” for Tesla, diverting attention from the company’s core business and potentially tarnishing its brand.

Tesla’s Stock Performance

Tesla’s stock had been experiencing a decline, reaching a two-year low of $177.59 per share. However, the stock bounced back by 6.5% due to a pullback in Treasury bond yields. This rebound came even as concerns about Musk’s Twitter-related distractions lingered.

Ives’ Scathing Note

In a scathing note, Dan Ives expressed his concerns about Musk’s focus on Twitter at the expense of Tesla’s core operations. Ives lowered his price target on Tesla’s stock by $50 to $250 per share while maintaining an ‘outperform rating.’ He criticized Musk for tarnishing Tesla’s story and brand with his ongoing Twitter controversies.

Financial Impact of Twitter Deal

Elon Musk’s personal stock holdings have been utilized to finance part of the $44 billion required for the Twitter takeover. This move led to a series of stock sales, raising billions of dollars. The financial implications of this endeavor are still unfolding, with potential consequences for both Tesla and Musk.

Sales of Tesla Shares

Musk’s recent stock sales have garnered attention. He sold 19.5 million Tesla shares within a short period, raising $3.95 billion. These sales followed earlier large-scale transactions, which raised concerns about Musk’s intentions and the impact on Tesla’s stock value.

Challenges Beyond Twitter

While Musk’s Twitter distractions are a significant concern, other challenges are also affecting Tesla. Demand concerns in China, a crucial market and manufacturing hub for Tesla, have emerged due to the country’s health policies and their impact on car sales. These challenges are further impacting Tesla’s global operations.

China’s Demand Concerns

Recent data from China revealed that Tesla’s car sales in the country had declined. This decline is partially attributed to concerns arising from the ‘zero Covid’ health policies in China. The decrease in demand adds another layer of complexity to Tesla’s challenges.

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Despite the current challenges, analysts maintain a generally positive long-term outlook on Tesla. The company’s role in the transformation of the auto industry towards electric vehicles remains promising. However, the ongoing distractions caused by Musk’s Twitter activities are dampening investor sentiment.

Reductions in Vehicle Prices

In response to market conditions, Tesla reduced the prices of its vehicles in China. The price cuts, which include a 5.3% reduction in the Model 3 sedan’s starter price and a 9% reduction in the Model Y’s cost, are aimed at maintaining competitiveness and boosting sales.

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Tesla has adjusted its full-year delivery outlook, signaling that it may fall short of its 50% growth target. The company aims to streamline operations, reduce costs, and enhance the customer experience. These efforts reflect Tesla’s commitment to long-term sustainability and profitability.


Elon Musk’s Twitter distractions have cast a shadow over Tesla’s stock performance and brand reputation. The ongoing controversy surrounding his social media presence has led to tangible consequences, prompting analysts like Dan Ives to reevaluate their stance on the company. As Tesla navigates these challenges, its ability to overcome distractions and focus on its core business will play a crucial role in shaping its future trajectory.


Q: How has Musk’s Twitter activity impacted Tesla’s stock?

Musk’s Twitter activity has introduced heightened volatility to Tesla’s stock. His tweets can lead to significant market movements, impacting investor sentiment and valuation.

Q: Why did Wedbush remove Tesla from its ‘Top Picks’ list?

Wedbush analyst Dan Ives removed Tesla due to concerns over Musk’s involvement in Twitter and the potential distraction it poses to Tesla’s core business.

Q: What financial implications arose from Musk’s Twitter takeover of Twitter?

Musk’s use of personal stock holdings to finance the Twitter takeover led to stock sales and raised billions. The full financial consequences are still unfolding.

Q: How has Tesla adjusted its outlook in response to these challenges?

Tesla has revised its full-year delivery outlook, indicating a possible shortfall in its growth target. The company is focusing on operational efficiency and customer experience.

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