On Tuesday, the shares of Tesla’s stock price fell to a 25-month low, and since the start of the year, these stocks have fallen in price by 65% to $138, worsening the number of cars that had been sold. Elon Musk tried to repel the aggressive attack from big investors, explaining the similar dynamics of Tesla shares with macroeconomic factors, and ironically inviting them to share their ideas.
Source: Bloomberg, Andrew Harrer.
As CNBC says, even a private investor named Ross Gerber, known for ignoring the perspective of Tesla shareholders, reproached that Musk was too keen on other business lines. According to him, the Tesla price at the moment is a result of the absence of the CEO. Gerber ordered the company to change, and said that Tesla shareholders should nominate themselves for the board.
Since April, when Musk announced that he had chosen to buy Twitter, Tesla shares have fallen 59% while the S&P 500 index has only fallen 14%, Ford Motor shares have fallen 26%, General Motors securities in general limited to a depreciation of 12%. It was last month that Musk sold Tesla shares for 3,6 million dollars, a supposedly to keep Twitter alive; that is why the head of the world’s largest electric car maker raised more than $40 billion since last year’s sale of shares of the company. Upon the sales of Tesla shares, he assured the investors he would limit himself, but again sold the shares.
Last Wednesday morning, Elon Musk made a statement regarding the recent Twitter poll. It’s pushing the company’s head to leave the post. Musk explained that he’d retire from Twitter as a CEO if he had been looking for a fairly honest person who he’d ready to take on this post. After that, Musk himself is ready to focus on the executive and team of squeezing software.
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