Tesla gets booted from Wedbush's 'Best Ideas' list as the stock has been tarnished by Elon Musk's 'ongoing Twitter train wreck disaster'
was kicked off Wedbush's list of best stock ideas, with the investment firm saying the"circus show" led by CEO Elon Musk at his newly acquired property—Twitter—is starting to hurt the electric vehicle maker.
"In what has been a dark comedy show with Twitter, Musk has essentially tarnished the Tesla story/stock and is starting to potentially impact the Tesla brand with this ongoing Twitter train wreck disaster," analysts Dan Ives and John Katsingris wrote in a note published Thursday. of the social media app on October 27 following his attempts to back out of the deal.
"From selling Tesla stock again and again, to the PR nightmare that Twitter has become, cutting 50% of employees and then needing to bring some back, Musk's attention focus from Tesla to Twitter, and ultimately the fear that this Twitter lightening rod of controversy on a daily basis starts to negatively change the Tesla brand globally," said Wedbush.worth around $3.
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