Elon Musk lashes out at Tesla bull Dan Ives over board proposals: 'Shut up'

Tesla CEO Elon Musk told analyst Dan Ives to "Shut up" in a post on X, after Ives offered three recommendations to the company's board

Ives suggested a new pay package for Musk, "guardrails" for the amount of time Musk spends at Tesla, and "oversight on political endeavors. "Tesla s slid Monday after Musk said he was creating a new political party called the America Party

Gonzalo Fuentes | ReutersTesla CEO Elon Musk told Wedbush Securities' Dan Ives to "Shut up" on Tuesday after the analyst offered three recommendations to the electric vehicle company's board in a post on X

Ives has been one of the most bullish Tesla observers on Wall Street

But on Tuesday, Ives took to X with critical remarks Musk's political activity after the world's richest person said over the weekend that he was creating a new political party called the America Party to challenge Republican candidates who voted for the spending bill that was backed by President Donald Trump

Ives called for Tesla's board to create a new pay package for Musk that would get him 25% voting control and a path to merge with xAI, establish "guardrails" for how much time Musk has to spend at Tesla, and vide "oversight on political endeavors. "Ives published a lengthier note with other analysts from his firm headlined, "The Tesla board MUST Act and Create Ground Rules For Musk; Soap Opera Must End. " The analysts said that Musk's launching of a new political party created a "tipping point in the Tesla story," necessitating action by the company's board to rein in the CEO

Still, Wedbush maintained its price target and its buy recommendation on the stock. "Shut up, Dan," Musk wrote in response on X, even though the first suggestion would hand the CEO the voting control he has long sought at Tesla

In an to CNBC, Ives wrote, "Elon has his opinion and I get it, but we stand by what the right course of action is for the Board. "Musk's historic 2018 CEO pay package, which had been worth around $56 billion and has since gone up in value, was voided last year by the Delaware Court of Chancery

Judge Kathaleen McCormick ruled that Tesla's board members had lacked independence from Musk and failed to perly negotiate at arm's length with the CEO

Ives isn't the only Tesla bull to criticize Musk's continued political activism

Analysts at William Blair downgraded the stock to the equivalent of a hold from a buy on Monday, because of Musk's political plans and rhetoric as well as the negative impacts that the spending bill passed by Congress could have on Tesla's margins and EV sales. "We expect that investors are growing tired of the distraction at a point when the needs Musk's attention the most and only see downside from his dip back into," the analysts wrote. "We would prefer this effort to be channeled towards the robotaxi rollout at this critical juncture. "Trump supporter James Fishback, CEO of hedge fund Azoria Partners, said Saturday that his firm postponed the listing of an exchange-traded fund, the Azoria Tesla Convexity ETF, that would invest in the EV company's s and options

He began his post on X saying, "Elon has gone too far. ""I encourage the Board to meet immediately and ask Elon to clarify his political ambitions and evaluate whether they are compatible with his full-time obligations to Tesla as CEO," Fishback wrote

Musk said Saturday that he has formed the America Party, which he claimed will give Americans "back your freedom. " He hasn't d formal details, including where the party may be registered, how much funding he will vide for it and which candidates he will back

Indexes and by far the worst performance among 's megacaps

Musk spent much of the first half of the year working with the Trump administration and leading an effort to massively downsize the federal government

His official work with the administration wrapped up at the end of May, and his exit preceded a public spat between Musk and Trump over the spending bill and other matters

Musk, Tesla's board chair Robyn Denholm and investor relations representative Travis Axelrod didn't immediately respond to requests for