Elon Musk, CEO of Tesla (TSLA), has been ordered by a California judge to comply with an SEC subpoena regarding his 2022 purchase of X.com, the social media platform formerly known as Twitter. This comes amidst recent headlines about challenges to Musk’s exorbitant pay package and other controversies, raising questions about whether his recent actions are impacting Tesla’s general investor appeal.
To discuss Musk’s relationship with Tesla’s stock in the face of these challenges, ROTH Capital Partners Senior Research Analyst Craig Irwin and Columbia Law School Professor Eric Talley joined Yahoo Finance Live. Irwin believes that Tesla’s competitive edge has “eroded” due to minimal technological innovation and various other factors, seeing the Tesla stock as a “hopes and dreams stock.” Talley views Musk’s “antics” as a “distraction” that could have been avoided if Musk had followed advice from the company’s board.
Despite these concerns, Irwin insists that “Musk is Tesla” and does not see any possibility of him being removed as CEO. For more expert insight and the latest market action, you can watch the full episode of Yahoo Finance Live.