--- title: "One of Tesla’s Biggest Supporters Is Running Out of Patience" description: "Wall Street is getting increasingly fed up with Tesla CEO Elon Musk, who has seemingly abandoned the carmaker in favor of gutting the federal government with the help of his so-called Department of Government Efficiency. Even one of the brand's most prominent bulls, Wedbush Securities analyst Dan Ives, is running out of patience. \"Musk needs to step up as Tesla CEO at this critical juncture,\" Ives wrote in a note. \"In a nutshell, the word 'balance' has been missing with Elon Musk and his ability to run Tesla as CEO... while instead focusing all of his energy and time driving […]" date: "2025-03-12" modified: "2025-03-12" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/tesla-biggest-supporter-out-of-patience" categories: - "Advanced Transport" - "Tesla" tags: - "elon musk" - "evs" - "tesla" --- # One of Tesla’s Biggest Supporters Is Running Out of Patience ![]() *\Image: Getty / Futurism\* Wall Street is getting increasingly frustrated with Tesla CEO Elon Musk, who has seemingly abandoned the carmaker in favor of spending most of his time gutting the federal government with the help of his so-called Department of Government Efficiency. Even one of the brand's most prominent bulls, Wedbush Securities analyst Dan Ives, is running out of patience. "Musk needs to step up as Tesla CEO at this critical juncture," Ives wrote in a [note](). "In a nutshell, the word 'balance' has been missing with Elon Musk and his ability to run Tesla as CEO... while instead focusing all of his energy and time driving his DOGE initiative within the Trump Administration." "There has been little to no sign of Musk at any Tesla factory or manufacturing facility the last two months and perception has become reality for Tesla shares," he wrote. It's a notable change in tune for one of the carmaker's biggest backers, highlighting the precariousness of the situation. Tesla sales have been [driven off a cliff worldwide](), in large part due to Musk's abrasive behavior and endorsement of far-right ideologies, which have cast a looming shadow on the brand and [triggered waves of protests and vandalism at showrooms](). The carmaker's shares tanked on Monday, dropping over 15 percent in less than a day. A [highly unusual event]() put on by president Donald Trump outside of the White House has seemingly breathed some new life into the embattled company, sending its shares up over seven percent on Wednesday. Yet the overall prognosis is grim, and Tesla stocks are still down almost 35 percent year to date. Analysts are anxiously awaiting the company's Q1 sales numbers, to be released next month — and many of them [are expecting the worst](). JPMorgan analyst Ryan Brinkman predicts a massive [51 percent drop from Tesla's current valuation](). Even Ives, who has long remained bullish on Tesla's performance, warned in his note that investor patience is wearing "thin" and that Musk is "not reading the room." According to Ives, Tesla is facing a "moment of truth." Meanwhile, Musk has doubled down on his newfound job in the White House. During a [*Fox Business* interview](), Musk [appeared to be on the verge of tears]() after being asked about "giving up" his "other stuff." "With great difficulty," the mercurial CEO admitted after being asked how he's running his other businesses. But according to Ives, Musk doubling down on gutting the government and leading mass layoffs in Washington, DC, could imperil the future of Tesla. "Becoming a political object is a dangerous path," he [told *Fortune*](). "As someone who’s covered Tesla for many, many years, it was time to communicate to Musk and the board what Tesla shareholders are telling us: Balance your time," he added. "Show that you are Tesla CEO." "This is not the time to just play in the DOGE sandbox," Ives argued. "He needs to step up." Despite the analyst's dire warnings, Ives maintained that Tesla shares will be worth $550 in a year, more than $100 above the company's all-time high set during last year's presidential election. Whether that'll ultimately be the outcome remains to be seen. Musk has promised that the carmaker will roll out "autonomous ride-hailing for money" [by June]() in Austin, Texas, a characteristically ambitious timeline. And the risks are considerable, especially considering the unfinished state of its driver assistance software, which has been [linked to hundreds of crashes and dozens of deaths]() by regulators. Will 2025 really be the year when Tesla will finally be able to deliver on a promise Musk has [made every year]() for the past decade? Investors will certainly be keeping close tabs on the company's progress. After all, with car sales in freefall, Tesla may eventually be forced to reinvent itself to keep them happy. **More on Tesla:** *[NYC Weed Shop Owner Says She May Park Her Tesla Outside and Give Out Sledgehammers to Destroy It]()* ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()