, which in turn, has damaged Tesla's brand, analysts say. Some Tesla investors have already called for Musk to step away from Twitter or get a new CEO for Tesla, showing waning trust in the tech titan as he remains under public scrutiny.
"Musk … has essentially gone from a superhero with a red cape to a villain in the eyes of many investors after the ongoing Twitter fiasco," Ives said. The Wedbush note added that Musk easing investors' concerns could be a bullish factor in tomorrow's call. The stock could also benefit if Tesla addresses how recent price cuts in the US, Europe, and China will affect its profit margins, and if Musk revises Tesla's 50% growth target this year to a more realistic 35%-40%, Wedbush said.
The Wedbush analysts estimated Tesla stock to rally 20% by the end of the year to $175. Shares have already rebounded from lows in 2022, gaining 32% year-to-date. Other commentators remain bullish on Tesla despite its dismal performance in 2022. Canaccord Genuity senior analyst George Gianarikas urged investors to