Some Tesla investors are calling for Elon Musk to hand over the reins at one of his companies as the electric vehicle company’s stock plummets — raising concerns the billionaire is stretched too thin.
Gary Black, managing partner of Tesla investor Future Fund LLC, called on the Tesla board to pressure Musk to find a leader for Twitter, so he can refocus his energies on the electric vehicle company.
Not since Steve Jobs with Apple or Jack Welch with GE has there been a CEO whose name is so closely tied to his company’s brand, Ives said. Goldman Sachs lowered its price target for Tesla this week, often meaning analysts expect the stock to fall, even as it said the company “remains well positioned for long-term growth.” But deliveries are likely going to be lower than expected, analysts wrote. They called attention to media reports that Musk’s actions have made the Tesla brand more polarizing.
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