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Tesla Investor Calls For A New CEO

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Tesla investors are becoming frustrated by a falling stock market and a CEO who splits his time running three companies.

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It has become so important that Tesla's third largest shareholder, KoGuan Leono, is asking for a new CEO to lead the EV manufacturer.

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This would allow Musk to concentrate on other ventures, such as SpaceX and Twitter.

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KoGuan Leo tweeted Wednesday, "Elon abandoned Tesla," and Tesla is without a CEO.

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"Tesla deserves and needs a full-time CEO."

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KoGuan Leo has a 22.7 Million share position in Tesla, currently valued at $3.57 Billion.

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Leo purchased his Tesla stake during the COVID-19 pandemic. The stock was trading at a split-adjusted value of $40 compared to today's $157.

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Tesla shares are down 55% year to date, and the stock has lost about $225 billion in market value since Musk's deal to buy Twitter in October.

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This decline occurred at a time when S&P 500 rose more than 3%. Investor concerns are real.

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Analyst Wedbush Dan Wives called Musk's Twitter venture "the circle" and "the zone."

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