New Delhi, July 8 -- In a significant development, investors at electric vehicle maker Tesla Inc. have urged the board to rein in CEO Elon Musk after his latest stunt to launch a new political party led the company's stock to sink.

"The board can't just sit here and watch this go by without saying something and putting guardrails in," Dan Ives, managing director of Wedbush Securities, a wealth management firm that holds shares in Tesla, told the Washington Post.

"I'm hearing from many shareholders that the frustration is hitting a tipping point," Ives added.

Another Tesla shareholder James Fishback, the Trump-supporting CEO of the Azoria investment company, said over the weekend that he'd be backing out of a new fund focused on the EV ...