Pain continues with Twitter ‘funding nightmare,’ says Wedbush

Wedbush analyst Daniel Ives says "the Twitter nightmare" continues as Musk uses Tesla as his own ATM machine to keep funding the red ink at Twitter which gets worse by the day as more advertisers flee the platform with controversy increasing driven by Musk. While Ives remains bullish on the long-term thesis for Tesla and believes the stock is oversold, Musk continues to throw gasoline in the burning fire around the Tesla story by selling more stock and creating Tesla brand deterioration through his actions on Twitter. Further, he thinks its getting to the point that more activism and growing investor frustration will force the Board of Tesla to confront some of these issues head on in the near-term. The analyst sees this as "a moment of truth" for Musk and Tesla, with fragile investor confidence in the story taking major hits with this latest Form 4 another upper cut blow to the story. He maintains an Outperform rating on Tesla on the long-term EV fundamental story, with a price target of $250.