Tesla’s stock is headed for its worst year: what has Elon Musk said about the company’s current state?
The entrepreneur may be making most of his headlines at the moment over his comments and movements on Twitter, but other fish are needing fried.
What a year it has been for Elon Musk. From picking a fight with Russian President Vladimir Putin and providing communication networks for Ukraine, to rocket launches with Space-X and then purchasing social media platform Twitter when it had appeared that he really didn’t want to. Then there’s the situation at his world famous car company Tesla, and the year has not ended well for them.
What has Elon Musk said about Tesla?
As of Tuesday, Tesla shares were down 44% in December, dropping a further 11% on the day, and 69% on the year. And as Musk continues to court controversy and divide the masses on his new public platform, it seems as though investors are getting very nervous about his ability to turn things around. Tesla is on course to win the race of the most valuable technology companies to be the worst performing stock of 2022.
So what has the entrepreneur said about the worrying situation? Well, after the recent decline, nothing at the time of writing, but here are a few comments that may give an idea of his thinking, until the next one.
April 28: “No further TSLA sales planned” - December filings show Musk sold over 20 million additional shares, worth around $3.6 billion.
December 22: “People will increasingly move their money out of stocks into cash, thus causing stocks to drop.”
What others have said about Musk and Tesla
“I think he really needs to focus on operations, focus on giving us great cars,” said Roth Capital analyst Craig Irwin. While Dan Ives, Wedbush Securities writes, “At the same time that Tesla is cutting prices and inventory is starting to build globally in face of a likely global recession, Musk is viewed as ‘asleep at the wheel’ from a leadership perspective.”
In other news, a senior Russian operative is predicting Elon Musk will soon be president of the United States. We live in interesting times.