Elon Musk's surprise all-hands brings Tesla's biggest bull back from the brink

Wedbush Securities analyst Dan Ives, traditionally one of Tesla's most bullish followers, said the all-hands was a "much-needed step forward" for Musk.

Ives had previously warned Tesla was spiraling into a "brand crisis tornado" amid widespread protests and a plunging stock price.

"This was a key moment for Musk and Tesla to show leadership and he did," he wrote in a note on Friday.

"We applaud Musk for 'reading the room' and showing important hand-holding at this key time for employees and investors."

Ives has been one of Tesla and Musk's loudest advocates on Wall Street, consistently stressing optimism about the EV maker's long-term outlook.

However, in a change of tone on Thursday, the analyst warned that Tesla had descended into a "crisis." He called on Musk to balance his time working on DOGE with his role as Tesla CEO, warning that the billionaire's work at the White House had turned the company into a "political symbol."