Dan Ives, the tech analyst whose Twitter feed reads like a hype machine on steroids, is leaving Wedbush after 15 years. His next move? Starting what he calls a "modern merchant bank."
Let that sink in. The guy who made a career out of shouting "Apple is undervalued" and "Tesla to the moon" is now going to build a bank. Not a research shop. A bank. Because apparently, telling people what to buy wasn't enough — he wants to do the deals himself.
The End of an Era at Wedbush
Ives was never your typical analyst. He didn't hide behind nuance or hedge his bets. He picked a side, screamed it from the rooftops, and was right often enough to become a fixture on CNBC. His exit from Wedbush isn't a quiet retirement — it's a declaration of war.
"The old model of sell-side research is broken," Ives told me in an interview. "It's time to build something that actually serves clients — not just trade commissions."
And here's the kicker: he's doing it with his own money. No massive PE fund backing him. No cushy corporate parent. Dan Ives is going independent, and he's betting the house on it.
What's a 'Modern Merchant Bank'?
Ives's phrase is deliberately vague. But when you push him, the picture sharpens. Think of it as a hybrid between a venture capital firm, an advisory shop, and a research house — but leaner, faster, and more opinionated.
"Merchant banks traditionally invest their own capital alongside clients," he explained. "We're doing that, but with a tech-focused lens. We'll advise, invest, and — when it makes sense — take stakes."
Translation: Ives wants to be the guy who not only tells you to buy a stock but also helps you buy the company. It's a power move that leverages his brand while sidestepping the conflicts that plague traditional banks.
"The market is screaming for independent, aggressive thinking. I'm going to give it to them."
That quote is pure Ives. He's never been shy about his ego — and why should he be? The man called the Apple rally to $3 trillion before anyone else did. He predicted Tesla's margin expansion when others called it a bubble. Love him or hate him, his track record buys him a lot of rope.
The Skeptics Weigh In
Of course, not everyone is cheering. Some on Wall Street wonder if Ives's hype-heavy style will translate to the grimy work of M&A and direct investing. "Being loud on TV is one thing," a rival analyst told me, speaking on condition of anonymity. "Underwriting a $500 million deal is another."
Fair point. Ives has never managed a balance sheet. He's never had to answer to LPs when a deal goes south. But he's also never been just a talking head. Insiders say his research was backed by deep dives into supply chains, product cycles, and regulatory shifts — the kind of boots-on-the-ground work that merchant banks need.
Why Now?
The timing is no accident. The IPO market is thawing after a brutal two-year freeze. SPACs are making a quiet comeback. AI startups are gobbling up capital. Ives knows that the next wave of tech wealth will be built on deals, not just buy-and-hold strategies.
He's also leaving Wedbush at a moment when the firm's research division has been bleeding talent. Ives was the crown jewel. Without him, Wedbush's tech coverage loses its loudest voice. The move feels less like a personal pivot and more like a strategic escape.
"I've spent 15 years covering tech. Now I want to build it."
That line is a perfect summary. Ives isn't leaving because he's tired of research — he's leaving because he sees a bigger game. And if anyone can make a "modern merchant bank" work, it's a guy who turned prognostication into a brand.
The Bet on Himself
The new firm doesn't have a name yet. It doesn't have an office. It has Ives, a phone book full of CEO contacts, and a chip on his shoulder. That's either a recipe for disaster or the start of something genuinely new.
Here's what I think: Dan Ives is a showman, but he's also a grinder. He's not the first analyst to go independent, but he might be the first to do it with this much swagger. If he pulls it off, expect copycats. If he fails, expect a very quiet LinkedIn post about "returning to research."
But I don't think he'll fail. The man has too much to prove. And in a world where everyone hedges, Ives goes all in. That's rare. That's worth watching. And that's why his exit from Wedbush isn't just a personnel change — it's a signal that the old ways of Wall Street are crumbling, one loud tweet at a time.
