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Tesla’s stock price has continued to slide as CEO Elon Musk becomes more involved in political issues. Recently, Musk’s decision to buyout Twitter and his comments about Dr. Anthony Fauci’s handling of the COVID-19 pandemic have sparked controversy and could be contributing to the drop in Tesla’s stock value.
Furthermore, the release of Twitter files detailing the events leading up to former President Trump’s ban and account suspension has also caused concern among investors. Many believe that Musk’s involvement in these political issues is distracting from his role as CEO of Tesla and impacting the company’s performance.
$TSLA shares are trading at their cheapest-ever level at just 30x forward earnings - Bloomberg pic.twitter.com/w7JGX2n4pl
— Sawyer Merritt (@SawyerMerritt) December 13, 2022
Despite this, Musk has remained steadfast in his support of certain political causes and his use of Twitter to express his opinions, saying “noting else matters, if woke virus is not defeated”. He has defended his decision to buyout Twitter, stating that he believes the platform is an important tool for free speech and that he intends to improve its functionality and security.
The woke mind virus is either defeated or nothing else matters
— Elon Musk (@elonmusk) December 12, 2022
However, some critics argue that Musk’s actions and comments are undermining the work of public health officials and potentially harming the fight against COVID-19. They also worry that his involvement in politics could hurt Tesla’s brand and damage its relationships with customers and business partners.
TSLA went down almost ~4% at the start of the trading day and reached 52W low at the time of writing this article. The stock price has been on a downward trend since the beginning of the year, and it is currently trading at around $162 per share.
Responding to a tweet from a tesla enthusiast regarding the same issue, elon cryptic said, what could be interpreted as “A Company valuation depends on the net cash flow the time, discount rate and time of the cash flow and not on the political views of the CEO”.
— Elon Musk (@elonmusk) December 13, 2022
With the new EV tax credits set to start in 2023, it is possible that Tesla’s stock price will recover as the company’s financial performance improves with more orders for its electric vehicles unless it get’s cancelled and lead to a lot of order cancellations.
Overall, it remains to be seen how Musk’s increasing political activity will affect Tesla’s stock price and the company’s future. Many investors and analysts are closely watching the situation and waiting to see how it will impact the electric car maker.
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Further Reading...
Elon reinstates Trump on Twitter after a poll. Elon has reinstated Trump on Twitter after a poll was conducted on Twitter. The poll was conducted by Elon himself and the results were in favour of reinstating Trump, the poll was very close with 51.8% of the votes in favour of reinstating Trump and 48.2% of the votes against reinstating Trump. Reinstate former President Trump— Elon Musk (@elonmusk) November 19, 2022...
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Elon musk in a recent tweet reply said that the removal of Former President Donald Trump from the social media platform Twitter was wrong, stating that the president did not violate the twitters terms of service or any law. Elon also said that the removal of Trump from Twitter was a mistake and that the company should have taken a different approach. I’m fine with Trump not tweeting. The important...
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After another controversial poll conducted by Elon Musk on Twitter, asking his followers if they want the suspended accounts to be reinstated, elon said that the suspended accounts will be coming back to twitter. The poll was conducted after the former president was reinstated on twitter with a similar poll a few days back. The poll was conducted on twitter and the results were as follows: Should Twitter offer a...
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After elon musk said previously suspended accounts from twitter will be coming back to twitter in accordance with a recent poll conducted by him, there is a growing concern among many democrats and far-left activists. Elon reinstated the former president will be reinstated on twitter and reinstating some of the suspend accounts which belongs to republic party members and far-left activists will result in using the platform to spread misinformation...
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Twitter has suspended the account “ElonJet”, which was known for tracking Elon Musk’s private jet and posting updates on the social media platform. The creator of the bot account, Jack Sweeney, has also been suspended. It was unclear at first why the account was suspended, but couple of hours later Elon Musk tweeted that his car with his son X in it was attacked and the account was suspended because...
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Live Follower Count
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As of: 2024-05-04 08:12
Live Follower Count
Net Worth 🥈
~198.4 Billions
As of: 2024-05-04 08:12
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