At the opening bell Monday, Tesla Inc. was trading at $319.96, down less than 1 percent.
Wall Street Journal tech and autos reporter Tim Higgins and ARK investments analyst Tasha Keeney on the future of Tesla.
"We are hopeful that ... the past 17 days will lead the Board down the path to bringing on a more operational CEO or at a minimum a COO", Cowen and Co analysts said in a note to clients.
"While we are always looking for highly talented executives (...) there is no active COO search", a spokesman said by email.
Several analysts suggested that Mr Musk could be replaced as chief executive or that a chief operating officer may be hired to support him.
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"Historically, we have been able to generate significant media coverage of our company and our vehicles, and we believe we will continue to do so", Tesla said in its most recent 10-K.
With Musk's idea for a buyout backed by Saudi Arabia's sovereign wealth fund now off the table, attention was zeroing in on Tesla's efforts to become profitable, its cash reserves and what steps Musk could take to raise fresh capital.
VW is also the only other company set to rival Tesla in building a network of fast chargers, after it was ordered to spend $2 billion to build a fast-charge network across America as part of its court settlement related to diesel emissions cheating.
Tesla won't be going private after all, it seems. "And now Tesla needs to get back to basics, which is ramping Model 3 production and profitability".
The stock, always volatile, has traded as high as US$387 and as low as US$288 since August 7, far short of the US$420 a share cash-out price Musk pitched.
USA securities law requires public company executives to have a "reasonable basis" on which to make representations to the investing public, and that would likely be the focus of an SEC probe, said three securities lawyers. Musk said earlier this month the company's "default plan" would be to fund that expansion by borrowing money from Chinese banks.