Longtime Tesla bull says Elon Musk's Twitter madness needs to end with investors frustrated

Justin Sullivan

Tesla (NASDAQ:TSLA) moved slightly higher in early trading on Wednesday after investors digested a series of SEC filings disclosing that CEO Elon Musk sold roughly $3.95B worth of stock over the last week to help fund the Twitter acquisition.

Wedbush Securities analyst Dan Ives warned Elon Musk loses more credibility with some investors and loyalists due to his multiple proclamations of being done selling TSLA shares - only for more sales to hit the wires.

"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. That said, the Twitter circus show has been an absolute debacle from all angles since Musk bought the platform for all the world to see: from the 50% layoffs and then bringing back some workers, to the head scratching verification roll-out to users which many are pushing back on, to the constant tweeting in this political firestorm backdrop, and now.....selling more TSLA stock."

The long-time Tesla bull thinks Tesla (TSLA) investors are exacerbated by the never ending Twitter albatross.

Ives and team kept an Outperform rating on Tesla (TSLA) in place and they still have a long term bullish view of the EV stock, but the contention is that the Twitter madness needs to end now as investor frustration continues to build.

Shares of Tesla (TSLA) moved up 1.78% premarket to $194.70 after hitting their 2022 low on Tuesday.