Tesla Inc (NASDAQ:TSLA) boss Elon Musk drew the wrath of broker Wedbush on Wednesday, with the broker calling on him to end his “Twitter madness."
In unusually forthright comments, analysts described the “Twitter circus show” as an “absolute debacle from all angles.”
Musk has sold a further US$4 billion worth of shares in the EV manufacturer despite saying multiple times over the past year he is "done selling Tesla stock," and Wedbush said he yet again has lost credibility with investors and his loyalists.
READ: Elon Musk offloads nearly US$4B worth of Tesla shares
“Musk is the most important part of the Tesla story by a wide margin, and every move he makes has a major impact on Tesla stock,” analysts wrote.
“When does it end? The focus is Tesla or Twitter? Is this Twitter train wreck situation hurting/tarnishing the global brand of Musk and therefore Tesla?"
To hear Wedbush tell it, Musk needs to look in the mirror and end the constant merry-go-round of Twitter overhang on the Tesla story, especially as Tesla needs his time more than ever given the soft macro, production/delivery issues in China and EV competition increasing around the globe.
However, despite the exasperated tone of its comments, the broker remained a long-term fan of the stock, reiterating an outperform rating.
Even so, “this Twitter madness needs to end now," analysts said. “No more selling of Tesla stock, talk the talk and walk the walk.”
Contact the author at jeremy@proactiveinvestors.com