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Elon Musk has expressed support for the Small Business Administration's new policy aimed at preventing fraud involving stolen Social Security numbers. He criticized past loan approvals, highlighting cases like a 157-year-old receiving a $36,000 loan, and noted that approximately 3.2 million individuals aged 120+ have been marked as deceased in a recent cleanup effort. The updated verification process is part of a broader initiative to enhance data integrity in federal loan programs.
Ross Gerber, co-founder and CEO of Gerber Kawasaki Wealth and Investment Management, has called for Elon Musk to resign as Tesla's CEO, citing Musk's divisive role in politics and its negative impact on the company. Gerber, a long-time Tesla investor with over 250,000 shares, argues that Tesla's brand has suffered due to Musk's distractions, particularly after his acquisition of Twitter and involvement in the Department of Government Efficiency. He believes a leadership change is essential to restore investor confidence and address the company's declining stock value.
Morgan Stanley has revised Tesla's target price from $430 to $410, reflecting challenges in the automotive sector and a slowdown in sales, despite a recent recovery in stock value. Analyst Adam Jonas remains optimistic about Tesla's long-term prospects, particularly with advancements in artificial intelligence, which could significantly enhance vehicle efficiency and safety. While the stock has faced a 50% year-on-year loss, it still holds potential for a 65% increase, making it a viable investment for those with a long-term outlook.
Republican senators are being urged to promote President Trump's Department of Government Efficiency (DOGE), which aims to eliminate wasteful federal spending and reduce bureaucracy. Despite public support for tackling waste, dissatisfaction with DOGE's execution and Elon Musk's leadership persists. The National Republican Senatorial Committee emphasizes the importance of showcasing successes and collaborating with DOGE to prepare for the upcoming midterm elections.
Elon Musk's AI feature, Grok, deemed a leaked audio clip of Vice President JD Vance as "likely not real," citing a lack of credible evidence and satirical language in the original post. The unverified clip, which has gone viral on TikTok, allegedly features Vance criticizing Musk's influence on the Trump administration and the economy. Despite the doubts surrounding its authenticity, the audio has sparked significant online discussion.
Elon Musk claimed that Starlink cannot operate in South Africa because he is not black, citing local laws and political tensions. He alleged that a political party promotes violence against white people and criticized a recent law allowing property seizure from white individuals. The South African Foreign Affairs department refuted Musk's claims, stating that compliance with local laws is the reason for Starlink's licensing issues, not his race.
Tesla investor Ross Gerber has called for Elon Musk's removal as CEO, criticizing the board for its negligence in addressing Musk's controversial statements and the decline in Tesla's brand value. Gerber, holding over 250,000 shares, believes Musk's divided attention since acquiring Twitter has harmed the company, urging for a dedicated CEO to refocus on Tesla's core business.
Attorney General Pam Bondi cautioned Rep. Jasmine Crockett to "tread very carefully" after her remarks suggesting Elon Musk should be "taken down." Bondi emphasized the need to protect Tesla owners amid rising vandalism and stated that those charged with damaging Teslas could face severe penalties for domestic terrorism. Crockett, while calling for a "Global Day of Action," insisted her actions are nonviolent and aimed at advocating for democracy.
Morgan Stanley analyst Adam Jonas has lowered his price target for Tesla stock to $430 but maintains a Buy rating, predicting a 93% rebound from its current price of $223.59. Despite challenges like declining sales and negative brand perception, he views the current dip as a buying opportunity, emphasizing Tesla's long-term potential driven by advancements in AI and robotics. Billionaire investor Ron Baron continues to support Tesla, reinforcing optimism for the company's future.
Senate Minority Leader Chuck Schumer defended his vote for a Republican spending bill to avert a government shutdown, asserting it was a principled decision to prevent greater harm from a shutdown, which he warned would empower Trump and Musk's Department of Government Efficiency. Despite backlash from within his party and calls for his resignation, Schumer emphasized the necessity of his vote to protect essential government services and avoid a situation where the executive branch could unilaterally determine what is deemed "essential." As tensions rise among Democrats, concerns about the party's direction and electability loom ahead of the 2026 midterms.
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