With Elon's latest erratic behavior, one has to wonder if he's even fit to be Tesla's CEO at this point. Make no mistake, I'm no Elon hater, $TSLA has been a significant part of my net worth since 2017. I think the time has come for the Board of Directors to remove Elon and find a suitable replacement for the CEO position. It's time to focus on brand damage mitigation, so he can't stay with Tesla in another position.

This pains me greatly because Elon Musk is the best operator CEO in the world. But he has let his ego get the best of him, so he no longer cares about the sustainable energy mission. All he cares about at this point is pissing off his client base, and pissing off his investor base. Freedom of speech, while important, was never a reason why thousands of investors bought $TSLA stock, or their EVs.

I think Larry Ellison's departure from the board has caused the current situation. With nobody to correct his bad behavior, Elon is now surrounded by Yes-Men, and has nobody to check him when he wants to do something stupid. There's no checks and balances in Tesla's board, and their refusal to approve a buyback, is the ultimate proof of that. The only reason a buyback hasn't happened, is because Elon has not given the signal to the board that he's done selling shares. It should be the other way around, the board should be the one checking Elon.

In conclusion, $TSLA will keep trading as a popularity contest on Elon Musk, until the board of directors decides to either approve the buyback or fire Elon Musk. And while Tesla fundamentals remain better than ever, I think investors might need to start cleaning up the board before they can have any real chance to touch Elon.