The Musk's Makeover As Tesla Market Cap Falls
Quote from Ndubuisi Ekekwe on December 23, 2022, 6:31 PMThe failing Tesla stock is pushing Elon Musk to change strategy, notes LinkedIn News: "In an attempt to quell some concerns from investors over his purchase of Twitter, Tesla CEO Elon Musk says he will pause selling shares of the electric-vehicle company for a minimum of 18 to 24 months. Musk also said that a buyback of Tesla stock would depend on the severity of a potential recession. Tesla's stock has fallen 60% this year, with investors worried that Musk's takeover of Twitter — which he purchased in October for $44 billion — has been a distraction.
- Musk has previously sold Tesla stock after pledging not to do so, according to The Wall Street Journal.
- Musk recently announced that he would resign as CEO of Twitter once a successor was identified."
The failing Tesla stock is pushing Elon Musk to change strategy, notes LinkedIn News: "In an attempt to quell some concerns from investors over his purchase of Twitter, Tesla CEO Elon Musk says he will pause selling shares of the electric-vehicle company for a minimum of 18 to 24 months. Musk also said that a buyback of Tesla stock would depend on the severity of a potential recession. Tesla's stock has fallen 60% this year, with investors worried that Musk's takeover of Twitter — which he purchased in October for $44 billion — has been a distraction.
- Musk has previously sold Tesla stock after pledging not to do so, according to The Wall Street Journal.
- Musk recently announced that he would resign as CEO of Twitter once a successor was identified."