Tesla falls again as more notable shareholders push for Elon Musk successor plan
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Tesla (NASDAQ:TSLA) peeled off another 4.40% in Friday trading and swapped hands as low as $150.04 as the electric vehicle continued its two-week skid.
Of note this week, there have been more direct shots of criticism fired at Tesla (TSLA) CEO Elon Musk from bullish analysts and prominent shareholders than at almost any time in the company's history. For one, Indonesian billionaire KoGuan Leo was vocal about Tesla (TSLA) needing to find a permanent successor. Leo's commentary of Musk is notable with the investor being the third largest individual shareholder of Tesla.
Other investors have agreed that a CEO succession plan is critical with Tesla (TSLA) aiming to ramp up production at two new assembly plants, prepare to ship the new Cybertruck, and plan on where the fifth Gigafactory will be located. Of course, the EV giant is also looking to navigate what is expected to be a choppy economic climate in 2023 and potential deceleration in EV demand.
Meanwhile, Wedbush Securities analyst Dan Ives thinks Tesla (TSLA) should at least outline Musk's 10b5-1 plan so investors know the amount and timing of stock sales. "The big issue here is the surprise of the timing and amount of Musk stock sales," he noted. 
Read more about how conviction on Tesla is falling on Wall Street and Main Street.
Dig into why Morgan Stanley sees a bumpy path for the EV sector in 2023.