After disclosing a passive stake in Twitter, Inc. on Monday, Tesla, Inc. CEO Elon Musk showed that he means business. The social media platform said in a filing on Tuesday that Musk will join the company’s board with a term expiring 2024.
The Tesla Analyst
Wedbush analyst Daniel Ives has an Outperform rating and $1,400 price target for Tesla shares.The Tesla Thesis
Accommodating Musk is a friendly move by the company’s board, as it embraces the Tesla CEO with open arms, analyst Ives said in a note. The passive stake is clearly just the start of Musk’s involvement in Twitter, he added.Drafting Musk into Twitter’s board will lead to a host of “strategic initiatives,” the analyst said. These, according to the analyst, could range from near-term to long-term possibilities as Twitter is still struggling in a social media arms race.
