Market Data 
- Elon Musk hosted a late-night Tesla all-hands on Thursday and addressed the plunging share price.
- Wedbush analyst Dan Ives hailed the meeting as a “step forward” that showed Musk was “reading the room.”
- The ultra-bull previously warned Tesla was in crisis and said Musk needed to spend less time on DOGE.
Elon Musk’s surprise late-night all-hands has already won over one Wall Street analyst.
Wedbush Securities analyst Dan Ives, traditionally one of Tesla’s most bullish followers, said the all-hands was a “much-needed step forward” for Musk.
Ives had previously warned Tesla was spiraling into a “brand crisis tornado” amid widespread protests and a plunging stock price.
“This was a key moment for Musk and Tesla to show leadership and he did,” he wrote in a note on Friday.
“We applaud Musk for ‘reading the room’ and showing important hand-holding at this key time for employees and investors.”
Ives has been one of Tesla and Musk’s loudest advocates on Wall Street, consistently stressing optimism about the EV maker’s long-term outlook.
However, in a change of tone on Thursday, the analyst warned that Tesla had descended into a “crisis.” He called on Musk to balance his time working on DOGE with his role as Tesla CEO, warning that the billionaire’s work at the White House had turned the company into a “political symbol.”
Tesla’s share price has almost halved since mid-December, with investors expressing concern over Musk’s spending time in Washington, D.C.
Sales have plunged in multiple markets this year, while Tesla showrooms and vehicles have become a target for protests against widespread federal job cuts pushed through by DOGE.
The Tesla all-hands, which kicked off just before 10 p.m. ET and was livestreamed on X, sparked confusion among some employees who were notified only shortly before.
The event saw Musk address the turmoil around Tesla and the stock price.
The Tesla boss compared the public backlash and acts of vandalism against company property to “armageddon,” telling employees he couldn’t “walk past the TV without seeing a Tesla on fire.”
Musk also told investors to “hang on to your stock,” pointing to Tesla’s upcoming “Cybercab” robotaxi and plans to build a “legion” of Optimus robots this year. Tesla shares prices fell by half a percentage point after trading hours.
In the Friday note, Ives said he believed Tesla’s future remained bright thanks to its investments in autonomous vehicles, AI and robotics — but warned that challenges remain.
“Musk needs to lead Tesla through this very turbulent period and show employees and investors the other side of this dark brand crisis tornado,” wrote Ives.
“We are not asking Musk to give up his DOGE initiative … instead we and many top investors are asking for balance as Tesla CEO and DOGE in this key period for Tesla.”
Tesla did not immediately respond to a request for comment.
