Tesla CEO Elon Musk didn't appear to like Wedbush analyst Dan Ives' suggestion that the company should rein in Musk's time spent on politics.

The analyst thinks Musk needs a new pay plan and a board committee that's dedicated to limiting, but not banning, the CEO's political activities.

Tesla’s board of directors was urged to put its foot down and rein in CEO Elon Musk after the electric car maker’s stock tanked following the mercurial mogul’s vow to launch a rival political party. Wedbush Securities analyst Daniel Ives penned a bluntly worded note on Tuesday calling on the board to “act now” and establish formal boundaries around Musk’s political activities,