My take:
I think Tesla as a company will be fine and Elon will get some well needed rest from the crazy stuff he's been doing. He'll still have SpaceX and Boring Company so he won't get bored but I'm glad the SEC is taking steps to ensure the second largest car manufacturer in the US is under stable guidance and isn't crossing legal boundaries for memes...
I'm getting ready to buy some TSLA when it is on sale on Monday, but that's just me...
Because people are confused:
Elon remains CEO of Tesla, but is losing his title of Chairman
The Chairman of the Board of a company makes decisions regarding the direction the company is headed.
They "steer the ship" so to speak.
The CEO executes plans and handles operation of a company.
The CEO's job is to be guided by the board and execute their will in practical terms in the company.
Elon loses his big picture direction and decision making unilateral power, but he can still give feedback and persuade the board to do things he believes in.
He also still handles operations of the company and many administrative tasks for Tesla.
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