On November 5, 2021, Tesla shareholders could saber the Champagne. The title of the car manufacturer indeed reached the record level of 407 dollars. A little over a year later, Tesla’s stock literally collapsed and it closed around $160 on Tuesday.
“Tesla is impacted by the Twitter drama”
Inevitably, investors are starting to get very annoyed with this trajectory, and they have a ready-made target in the person of Elon Musk, who literally embodies the company. On Twitter, Gary Black, a hedge fund manager who owns Tesla stock worth about $50 million, ranted: “There is no Tesla CEO today”.
He thus criticizes the absence of the chef, who has spent a lot of his time at Twitter since its takeover last November. And Gary Black adds: “The market has decided today, and it feels that the Tesla brand has been negatively impacted by the Twitter drama. Where before electric car buyers were proud to show off their Teslas to their friends or show off Teslas in front of their homes, now the Twitter controversy is hurting the value of the Tesla brand. »
This sentiment is echoed by Ross Gerber, another trusted Tesla investor. He lamented seeing Elon Musk “work for another company”. Before stating: “Tesla deserves a focused CEO. »
Elon Musk is well aware of this agitation. As usual, he reacted directly on his Twitter account: “Tesla will be great in the long run, but doesn’t control the macroeconomic tides. I’m going to make sure Tesla shareholders benefit from Twitter for the long term. »
Last week, he also promised that he would continue “supervising Tesla and SpaceX, but the teams are so good that I often don’t need much help”.
Elon Musk struggles to reassure
As we have seen recently, Elon Musk has more difficulty than in the past in reassuring his interlocutors. Like Bill Nelson, the director of NASA, who expressed his relief when he learned that SpaceX was not run by the contractor but by Gwynne Shotwell, president and chief operating officer of SpaceX.
Last November, Elon Musk had already responded to criticism from Tesla fans who accused him in particular of having sold Tesla shares to finance the takeover of Twitter. The billionaire replied: “I take care of Tesla too. I will be there partly this week. »