Wedbush analyst Dan Ives attributes the recent rally in Tesla (TSLA) shares to billionaire Elon Musk’s all-hands meeting last week that “sent a much-needed positive signal to employees and investors.” TSLA looks poised to extend its gains further now that Musk is back in the driving seat,

Tesla CEO Elon Musk held an all-hands meeting last week, which helped reassure both employees and investors, according to Wedbush analyst Dan Ives. Despite being down 30% since the start of the year, Tesla stock rebounded Monday as Musk demonstrated he is “back in charge,” Ives said.