Post by account_disabled on Mar 10, 2024 5:20:31 GMT -5
Wedbush analyst Dan Ives believes Elon Musk must take 10 steps to turn around Tesla stock in 2023 . The stock has plunged more than 60% in 2022 due to Musk's acquisition of Twitter , sales of his Tesla stakes to fund Twitter, Federal Reserve rate hikes and slowing demand. Ives says that while his firm remains bullish on Tesla in the long term with a price target of $175 in the next 12 months, " Musk MUST start changing direction at this point or else this situation could get even uglier." This is his to-do list for Musk in 2023 : 1. Appoint a new CEO of Twitter before the end of January. 2. Stop your personal sales of Tesla stock and formally adopt a 10b5-1 plan "to let investors know there is no big selling block around the corner as Musk sold approximately $40 billion in stock of Tesla last year.
Present investors with a more conservative delivery target for Tesla's electric vehicles. " The 50% growth target is not happening in our view, with delivery growth above 35% being a more achievable and realistic target for 2023." 4. Refocus on Tesla and not Twitter. " Musk is the heart and lung of Tesla and vice versa." 5. Set Cybertruck delivery target for late 2023. "Schedule WhatsApp Number List is key here, with competition from all angles and concerns about production issues pushing this into 2024. Giga Austin is underway and now key to find Tesla's next growth target." Elon Musk assures that Twitter workers had a Slack channel called "Fauci Fan Club", the main medical advisor to the White House who managed the pandemic 6. Make changes to Tesla's board of directors to add more.
Expertise in technology and electric vehicles. 7. Issue a buyback of Tesla shares . "Announcing a major share buyback program is important/key to Wall Street sentiment and with shares at these levels an obvious strategic move in our view for Tesla given its massive treasure chest." 8. Encourage greater financial transparency around the margin structure at Tesla. "We think this is a hidden gem in the company with the most production/sales in China and Giga Berlin and Austin accelerating." 9. Refrain from political topics on Twitter . "The more Twitter political Musk gets is a bad thing for selling electric cars to the masses." 10. Present an overall strategy for your Twitter plans. "Right now the fear is that Twitter is losing money with advertisers fleeing (for now) which means more.