Tesla is headed for a new growth phase as Elon Musk is finally the 'adult in the room,' Wedbush says

• Tesla is back on track as Elon Musk is finally acting like the "adult in the room," Wedbush said.

• Dan Ives pointed to Tesla's latest earnings call, in which the firm issued firm guidance on its strategy.

• Rolling out a low-cost EV next year will be key to Tesla's growth, he said.

Tesla stock could be headed for better days, thanks to Elon Musk finally stepping up as the "adult in the room" to calm investors as the company battles an array of headwinds, according to Wedbush Securities analyst Dan Ives.

Ives pointed to Tesla's first-quarter earnings call on Tuesday, during which Musk issued firm guidance on the electric vehicle maker's strategy going forward.

In particular, the company reiterated its guidance on the Model 2, a lower-cost electric vehicle that's set to roll out next year and has been eagerly awaited by Wall Street to help juice sales as demand wanes. The cheapr model will be key to Tesla's success, which will be centered on sales volume over the near term, Ives said.