14, that "Elon abandoned Tesla and Tesla has no working CEO." He called on the company's board of directors to take action. Tesla's largest retail shareholder, Leo Koguan, wrote in a tweet on Dec. "With the Twitter chaos front and center and resulting in a major headache and overhang for the Tesla story, we believe Musk needs to name a permanent CEO of Twitter (and not Musk himself) to end the pain," Ives said. In a note late Sunday, Dan Ives, managing director of equities at Wedbush Securities, wrote that the second-biggest request on his Christmas "wish list" was for Musk to find a successor to run the social media company. It comes amid a broad decline in growth stocks which has seen the tech-heavy Nasdaq Composite fall more than 30% year to date. Shares in Tesla had dropped about 60% year to date as of Friday's close. Nelson said she reassured him it would not.īut Musk's behavior at Twitter is having a negative impact on his car company's public image and stock price. He has also pulled in talent from both Tesla and SpaceX, including executives, engineers and attorneys, to assist him at Twitter.Ī CEO spending time and money on Twitter isn't Tesla's only challenge - the company is currently offering discounts on vehicles in China, an indication of weaker demand for its cars there, according to Tesla bear Toni Sacconaghi of Bernstein on CNBC's " Squawk on the Street" last week.Įarlier this month, NASA Administrator Bill Nelson asked SpaceX President and COO Gwynne Shotwell whether Musk's "distraction" at Twitter might affect SpaceX's work with the space agency, NBC News reported. The billionaire's management of Twitter is bleeding into, and raising concerns about, his other ventures.įor example, Musk has sold billions of dollars worth of Tesla shares this year to finance the Twitter takeover. Musk claims that Twitter usage has reached an all-time high since he took over, and that hate speech impressions have fallen. He led the acquisition of the company for around $44 billion in October, and his leadership has resulted in massive staff cuts, a spike in racist hate speech, advertisers fleeing or slashing their spending on the platform, as well as the reinstatement of previously banned accounts. The suspensions marked the latest chapter of Musk's rocky takeover of Twitter. Some of the accounts were fully or partially restored a few days later, but not all. Musk's policy changes were used as a justification to suspend the Twitter accounts of a number of U.S.-based journalists, commentators and others who were critical of the CEO or his companies in the past. Personal Loans for 670 Credit Score or Lowerĭays earlier, Twitter made changes to its policy on "doxxing," which the company now defines as "sharing someone's private information online without their permission." The new policy prohibits users from sharing other people's live location information, home addresses, contact information or physical location information but has left many confused over what information crosses Twitter's line. Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
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