Elon Musk’s latest Securities and Exchange Commission (SEC) problems could put some pressure on his company’s stock, according to one analyst.
In a note to investors on Tuesday, Wedbush Securities analyst Dan Ives said that the SEC’s request on Monday to place the Tesla CEO in contempt for a tweet he sent out last week creates a “tornado of uncertainty” for Tesla shares. He called the SEC’s move “a near-term overhang on shares until investors can better gauge the impact.” And Ives is ultimately concerned that it’s “another distraction for Musk & Co.”
