Elon Musk Is Tesla’s ‘Biggest Asset,’ Says Dan Ives As He Reiterates His $2 Trillion Market Cap For TSLA Stock – Tesla (NASDAQ:TSLA)
Wedbush Securities‘ managing director, Dan Ives, has reiterated his bullish views on Tesla Inc. TSLA stock following CEO Elon Musk’s exit from the Department of Government Efficiency (DOGE) and the Trump administration.
What Happened: Ives shared that Musk’s return to Tesla is crucial for the EV giant’s robotics and AI vision, stating that it represents 90% of the company’s future value, in an interview with Yahoo Finance on Monday.
“The brand damage, I believe, is now contained and most of that is in the rearview mirror with him at the Trump administration,” Ives said before adding that the focus is now on rebounding sales in Europe, the U.S. and China.
Ives also predicted that Tesla sales will see a rebound in China in the second half of the year, a “stabilization” in Europe, as well as a rebound in the U.S. sometime in Q3 2025.
Referring to Tesla’s surge in value, Ives chalked it up to the CEO’s recommitment to Tesla. “Once Musk recommitted to Tesla, days in the White House were done, Tesla got back its biggest asset.”
Ives also said that Musk’s return coincides with the biggest era in the company’s history and reiterated a $2 trillion market cap for Tesla.
Why It Matters: Ives’ comments are in line with the investor’s bullish views on Tesla, despite several experts offloading Tesla positions, including Future Fund LLC‘s Gary Black.
The company is proceeding with the June 12 Robotaxi launch in Austin. Musk said that the company had been testing Unsupervised FSD in Austin in the buildup to the robotaxi launch “a month ahead of schedule.”
Tesla sales continue to decline across multiple markets worldwide, with data showing that the company’s sales fell 67% year-over-year in France, marking a three-year low for the automaker.
Tesla scores well on Momentum, Growth, and Quality metrics, but offers poor Value. For more such insights, sign up for Benzinga Edge Stock Rankings today!
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