Another Tesla Investor Is Calling Musk To Quit
1min read A prominent tesla investor has stated that Elon Musk should step down as CEO unless he relinquishes his position in the U.S. government.
Ross Gerber, CEO of Gerber Kawasaki Wealth & Investment Management and a well-known Tesla investor, openly expressed during a television appearance that Tesla currently needs a new CEO.
Ask Aime: What is the impact of Elon Musk's potential resignation on Tesla's stock?
He stated, "It's time for somebody to run Tesla. There are too many important things Tesla is doing, so either Elon should come back to Tesla and be the CEO of Tesla and give up his other jobs, or he should focus on the government and keep doing what he is doing, but find a suitable CEO of Tesla."
Gerber pointed out that Musk's social media remarks and his collaboration with U.S. President Trump have negatively impacted Tesla.
Ask Aime: Who should replace Elon Musk as Tesla CEO?
He bluntly said, "The company's reputation has just been destroyed by Elon Musk. Sales are plummeting, so yeah, it's a crisis. You literally can't sell the best product in the marketplace because the CEO is so divisive."
Tesla faces multiple challenges, and Musk himself is one of them.
With the strong support he provided during the election, Musk has become one of Trump's most trusted confidants. He serves as the head of the Department of Government Efficiency (Doge) in the new administration. This is a newly established agency, not strictly part of the federal executive branch, but under Trump's directive, Musk's Department of Government Efficiency has demonstrated influence beyond that of ordinary cabinet-level departments.
Trump's election victory initially significantly boosted Tesla's stock price, which surged from early November last year, reaching a historic high of $488.54 per share. However, Tesla′s stock has fallen more than 41% to $235.86 per share on Wednesday.
While the overall slump in the U.S. stock market has contributed to Tesla's stock price decline, the company itself faces numerous challenges.
Tesla has been struggling with slowing growth in electric vehicle demand and competition eroding its market share. Now, it faces a new challenge: consumer aversion to CEO Elon Musk.
In the first two months of this year, Tesla's sales in the European market plummeted, while overall electric vehicle sales grew during the same period, highlighting a rapid decline in European investors' approval of Tesla.
Meanwhile, public aversion to Musk is intensifying, leading to frequent violent protests. In the U.S., there have been numerous violent incidents targeting Tesla dealerships, supercharger networks, and even private vehicles recently.Additionally, protesters across the U.S. and Europe are urging Tesla owners to sell their cars and calling on Tesla investors to divest from the company's stock.
