There are signs that Mr. Musk’s ownership and focus on Twitter are interfering with his other business ventures. Since Mr. Musk acquired Twitter, the value of Tesla has sunk. The car company’s share price was $225 on Oct. 27, the day Mr. Musk completed the acquisition of Twitter. On Friday, Tesla shares closed at $150.
Last week, Mr. Musk disclosed that he had sold another $3.6 billion worth of Tesla stock. This year, Mr. Musk has now sold $23 billion worth of Tesla stock, much of it after he pledged in April to stop selling shares to finance his Twitter deal.
“Attention focused on Twitter instead of golden child Tesla has been another big issue for investors and likely is behind this poll result with many Musk loyalists wanting him to leave as C.E.O. of Twitter,” analysts Daniel Ives and John Katsingris at Wedbush Securities wrote in a note published shortly before the Twitter vote closed.
Musk’s resignation from Twitter would be a “a major step forward,” they added, with the billionaire finally realizing that there has been “growing frustration around this Twitter nightmare that grows worse by the day.”
On Monday, Tesla shares rose about 5 percent in premarket trading to about $157.