Snap up Tesla stock because a new Twitter CEO will allow Elon Musk to focus on his 'golden child', Wedbush says
Elon Musk's looming departure as Twitter CEO is good news for Tesla investors, according to Wedbush managing director Dan Ives.and that she will start in around six weeks, with the billionaire taking on a new role as Twitter's CTO and executive chair.
"Leaving earlier than originally thought is a positive development for Tesla as well as SpaceX with Musk needing to spend more and more time on these golden child platforms rather than Twitter," Ives wrote Thursday in a research note seen by Insider. "With the tweet this afternoon, Musk's reign as CEO of Twitter has finally come to an end and thus will be a positive for Tesla's stock, starting to finally remove this lingering albatross from the story," Ives said.
Wedbush maintained its outperform rating for Tesla and shared a 12-month price target of $215, 25% above the $172.08 level the stock traded at as of Thursday's closing bell.He sold billions of dollars worth of Tesla stock to fund the deal - and since he completed the takeover in October, many high-profile investors have said he cannot effectively run the three companies he's CEO of at the same time.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla stock jumps after Elon Musk says he's stepping down as Twitter CEOTesla stock jumps after Elon Musk says he's stepping down as CEO of Twitter
Read more »
Tesla stock jumps after Elon Musk says he's stepping down as CEO of Twitter - AutoblogThe billionaire tech mogul tweeted his announcement Thursday afternoon and said he would transition to 'exec chair & CTO.'
Read more »
Nissan Ariya review: EV pioneer can compete with Tesla and Elon MuskI drove Nissan's electric Ariya SUV — it proves that 13 years after the Leaf, the automaker can compete with Tesla
Read more »
Elon Musk teases a Tesla Cybertruck tool rack with futuristic shovelsInsider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know.
Read more »
Elon Musk Talks Tesla FSD Beta 11.4.1, Adds 'Major Update Coming'It seems the Tesla CEO is really trying to sell this latest Full Self-Driving (FSD) beta update. It will be interesting to see if it lives up to his hype.
Read more »
Pete Buttigieg Slams Tesla's Autopilot as Misleading'I don’t think that something should be called, for example, an Autopilot, when the fine print says you need to have your hands on the wheel and eyes on the road at all times.'
Read more »