Chief executive of Tesla, Elon Musk, advised employees to not fear “stock market craziness.”
Tesla shares have fallen 70% since the beginning of this year. Elon Musk advised employees Wednesday not be bothered by the stock market chaos. According to Reuters, Musk sent an email Wednesday to his staff stating that he believes Tesla would be the most valuable company in the long-term.
Tesla’s stock prices have fallen nearly 70% since the beginning of the year. This includes a 40% drop in December. Phil Rosen, an insider, noted that Tesla was among the worst performing stocks on the S&P 500.
According to Reuters, Tesla’s chief executive Elon Musk said that his employees should not be bothered by the stock market craziness on Wednesday.
Musk stated that he believes Tesla will be the most valued company in the long-term, according to an email he sent to employees on Wednesday, which was reviewed by Reuters.
Concerns about a softening demand and Musk’s distraction from Twitter have been the main causes of Tesla’s stock price drop. Musk’s fortune also fell by $140 billion as the net worth of the company has declined.
Tesla did not respond immediately to a request for comments.
Business Insider has the original article.
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By: lvaranasi@insider.com (Lakshmi Varanasi)
Title: Elon Musk assures Tesla workers they should not be ‘bothered by stock market craziness’
Sourced From: www.businessinsider.com/musk-tesla-workers-dont-be-bothered-by-stock-market-craziness-2022-12
Published Date: Wed, 28 Dec 2022 23:57:14 +0000
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