Wedbush analyst Dan Ives believes 10 measures Elon Musk should implement to turn Tesla shares around in 2023,
Musk’s Twitter acquisition in 2022, the sale of his Tesla stake to fund Twitter, a Federal Reserve rate hike and slowing demand have caused shares to drop more than 60%.
Ives says that while his firm remains Tesla long term bullish With a price target of $175 over the next 12 months,”Musk should start to change direction At this point, otherwise it could have turned uglier.”
this is your list Tasks pending for Musk in 2023,
1. Appoint a new CEO of Twitter before the end of January.
2. stop them individual sales of tesla stock and formally adopting a 10b5-1 plan “to let investors know there’s no big sale around the corner, as last year Musk sold about $40 billion worth of Tesla stock.”
3. Current investors with more conservative distribution targets for Tesla’s electric vehicles. “While the 50% growth target is not happening in our judgement, over 35% distribution growth by 2023 is a more achievable and realistic target.”
4. Refocus on Tesla, not Twitter. ,Musk is Tesla’s heart and lungs and vice versa”.
5. set a delivery target for the Cybertruck by the end of 2023. “Timing is crucial here, with competition from all angles and concerns about production issues pushing it to 2024. Giga Austin is on track and now is the key to hitting the ground running.” Tesla’s next growth target.”
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6. to do Change in the Board of Directors From Tesla to add more expertise in technology and electric vehicles.
7. an issue Tesla stock buyback, “Announcing a major share buyback program is important/significant to Wall Street confidence and a clear strategic move in our view for Tesla with shares at these levels, which is a massive coffer.”
8. Encourage greater financial transparency around the margin structure at Tesla. “We think this is a hidden gem in a company with most production/sales in China and booming in Giga Berlin and Austin.”
9. stay away from it political topics on twitter, “As much political musk gets on Twitter, selling electric cars to the public is a bad thing.”
10. Present an overall strategy for your plans on Twitter. “The fear right now is that Twitter is losing money with advertisers fleeing (for now), which means more losses and therefore more Tesla stock sales by Musk. When there’s a new CEO, he has to run Twitter for 3 years.” and what it could become, Super App, ‘X’, WeChat 2.0, etc”.