Tesla (TSLA) has faced mounting challenges in 2024, garnering increasingly bearish sentiments from major shareholders. The EV maker’s stock has fallen almost 40% year-to-date.
Wedbush Securities Managing Director Dan Ives recently put out a note claiming that "the clock has struck midnight" for Tesla CEO Elon Musk. He joins Yahoo Finance to discuss Tesla’s recent performance and what the company’s future may look like moving forward.
Ives elaborates on his stance: "This is really what I view when when I say ‘clock striking midnight’ — it comes down for Musk. Navigate the Category 5 storm just like he has in ’18, 2020, and other. Otherwise, this is not just ‘Trust me,"’ because I think that’s really the frustration now that, essentially, it went from a Cinderella story, magic carpet ride to what’s been a bit of a horror show, especially the last three, four months."
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