After Elon Musk, the CEO of electric car maker Tesla (NASDAQ:TSLA), bought Twitter, a firestorm of controversy followed in its wake. Not just about what was happening on Twitter but also what would happen at Tesla—or wouldn’t—as a result. Now, new reports suggest that Elon Musk’s days as Chief Twit may be numbered as he seeks a replacement.
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Reports are varied right now, but some consensus emerged among them. Right now, the word is that Musk will be stepping down at some point, but not yet. Musk doesn’t plan to leave immediately but instead plans to begin a search process to find a new CEO. The search process is expected to take around four months.
A Twitter poll revealed that a large number of Twitter users would prefer to see Musk go; 57.5% of respondents in the poll wanted Musk to walk, against the remainder that preferred he remains. Several stock analysts have come out in the last few weeks as well, suggesting that Musk should turn his focus back to Tesla before the company craters. However, there were some discrepancies in the polling. Musk noted that, in the future, only Twitter Blue subscribers would be allowed to vote.
Regardless, the news isn’t helping Tesla much; it’s down significantly in afternoon trading. Additionally, the company has a Moderate Buy analyst consensus rating. Its average price target of $279.41 implies upside potential of 97.84%.
