A day after Elon Musk and US President Donald Trump engaged in a ‘fight’ online, Wedbush Securities tech analyst and Tesla bull, Dan Ives, has advised investors to brace for further developments in the ongoing public dispute between the Tesla CEO and Trump, a conflict many experts had anticipated, a report has said.“Get the popcorn out,” Ives told CNBC, suggesting the dispute is far from over.“I don’t think we’re done here,” he added.
Ives says the online feud between Musk and Trump is ‘bad news’ for market
Ives expressed concern that Musk’s strong reactions to Trump could jeopardise prospects for favourable regulatory outcomes for Tesla. In a research note on Thursday, Ives said the spat will be “jaw-dropping and a shock to the market.”“The quickly deteriorating friendship and now ‘major beef’ between Musk and Trump is jaw-dropping and a shock to the market,” Ives warned in a research note on Thursday, adding it is “putting major fear for Tesla investors on what is ahead,” he said.However, Ives later moderated his stance following reports from Politico indicating that White House aides had contacted Musk in an attempt to de-escalate the situation.On Friday (June 6), Ives adjusted his assessment, writing that “Musk needs Trump and Trump needs Musk for many reasons, and these two becoming friends again will be a huge relief for Tesla shares,” subsequently labeling the stock as oversold.
How Musk-Trump spat started
The feud started soon after the introduction of the Trump administration’s “One Big, Beautiful Bill“, which Musk publicly branded a “disgusting abomination.” Trump later fired back saying he did not need Musk to win in Pennsylvania. Musk replied by saying that if he would have not been involved, Trump would have lost the elections.
