Latest news with #branddamage
Yahoo
3 days ago
- Automotive
- Yahoo
EXCLUSIVE: Should Musk Be Fired From Tesla After Trump Feud? 45% Say This In New Poll
The bad news for Tesla Inc (NASDAQ:TSLA) and its shareholders continues in 2025, with a highly public feud between CEO Elon Musk and President Donald Trump adding to question marks like demand, brand damage, and robotaxis. A new survey shows whether investors are ready for Tesla to part ways with the dynamic CEO. What Happened: Tesla stock suffered its largest one-day market capitalization decline with a $152 billion drop after Musk's feud with Trump. The drop continues a highly volatile year for Tesla stock, with rises and falls related to Musk's push into politics and Trump's 2024 election win. Trending: Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — While a close friendship between Trump and Musk was once viewed as a catalyst for Tesla's stock price to go up, it also led to drops, with Tesla suffering brand damage and seeing protests due to Musk's political push. A feud between Trump and Musk could send Tesla shares down even more in the future. Benzinga recently polled readers about the electric vehicle company's future. "The battle with Donald Trump could hurt Tesla's brand value and image even more as the company looks to recover from a rough year that saw protests and declining sales. Do you think Tesla's Board of Directors should replace Musk as CEO?" Benzinga asked. Here are the results: No: 45% Yes: 38% Don't Know/Not Sure: 17% The poll found a near majority aren't ready to see Tesla's Board of Directors move on from Musk with 45% saying No. While this was a near-majority, the answer of Yes followed close behind at 38%, with the remaining 17% of readers unsure of where they It's Important: A recent Wall Street Journal report suggested Tesla's board had discussed the possibility of moving on from Musk. Musk has indicated that his time in the White House is over, and he will be spending significant time helping to shape Tesla's future. This coincides with the launch of Robotaxis in Texas this month. The Tesla CEO has said he plans to be at Tesla for at least five more years, which would mean the Board of Directors would have to make a change to get rid of him. The board may be unwilling to get rid of the person who has meant so much to the company, even with recent controversy and high share price volatility. Prediction market currently has a 15% chance that Musk is out as the Tesla CEO In 2025. The odds hit 21% on June 5 as the feud with Trump escalated. On the prediction market Kalshi, there is a 14% chance that Musk will be out as the Tesla CEO this year. The odds hit 21% on June 6. Read Next: Are you rich? Here's what Americans think you need to be considered wealthy. These five entrepreneurs are worth $223 billion – they all believe in one platform that offers a 7-9% target yield with monthly dividends The study was conducted by Benzinga from June 5, 2025, through June 9, 2025. It included the responses of a diverse population of adults 18 or older. Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from 212 adults. Image created using photos from Shutterstock. UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? This article EXCLUSIVE: Should Musk Be Fired From Tesla After Trump Feud? 45% Say This In New Poll originally appeared on
Bloomberg
19-05-2025
- Automotive
- Bloomberg
Cathie Wood: Yes Tesla Brand Damage Has Happened
ARK Invest founder, CEO, and CIO Cathie Wood has told Bloomberg Radio that Tesla's brand has been hurt by Elon Musk's involvement in politics. Speaking to Caroline Hepker and Tom Mackenzie on Bloomberg Daybreak Europe, Cathie Wood said, "Brand damage, yes, it has happened." The comments come just weeks after data showed that Tesla registered only 512 new vehicles in April in the UK. Figures from the Society of Motor Manufacturers and Traders showed that new vehicle registrations were down 62% from a year earlier. Tesla's plunge was even more pronounced in Denmark, the Netherlands, and Sweden, with sales dropping by at least two-thirds in each country. (Source: Bloomberg)
