Tesla shares continue to drop. So far this year, the share price of the world’s largest electric car maker has plunged 70%, more than the Nasdaq average and most global technology companies.
The worst thing is that Tesla’s shares were one of the most sought after by investors seeking protection in a company that had sustained growth for more than 10 years.
In this context, the CEO of Tesla, Elon Musk, had to intervene to bring calm to the interior of the company.
In a communication to employees, Musk told them that they shouldn’t “be bothered by the madness of the stock market.”
The concern is more than valid, since since the beginning of 2022 Tesla’s shares have collapsed due to the drop in demand for ecars and, according to some experts, because of the distraction that the purchase of the social network Twitter supposes for the tycoon.
On the other hand, Musk has not stopped selling Tesla shares in recent months.
According to some reports, since the volume of its participation in the electric car manufacturer was known last April, it has already sold more than 60 percent.
“When interest rates on bank savings accounts, which are guaranteed, begin to approach the performance of the stock market, whose earnings are not guaranteed, people will increasingly move their investments from stocks to the future. cash, this is going to make them fall”, said the South African on Twitter a few weeks ago.
analysts of A. J. Bellin a technical post last week, said that as long as Elon Musk doesn’t locate a new CEO on Twitter, everyone thinks he’s going to stay in charge of the social network, thereby distracting himself from his core job at Tesla.
In an email sent to all employees on Wednesday, December 28, Musk told them that he believes that, In the long run, Tesla will be the most valuable company in the world. public Reuters.
He also urged workers to raise car deliveries later this quarter after the automaker offered discounts on its vehicles in the US and China.
“Do as much as possible in the next few days and volunteer to help deliver if possible. They will make a big difference!”, he told them in an email.
Analysts expect Tesla to deliver 442,452 vehicles in the fourth quarter.
Now read:
Tesla could lay off employees in the first quarter of 2023
Elon Musk hints that Jeff Bezos copies his business moves
Elon Musk continues to massively sell Tesla shares: this we know