Tesla Employees To Ignore Elon Musk “Stock Market Chaos”

Elon Musk, Tesla CEO sent an email to all employees on Wednesday in which he urged them to remain focused and not be distracted by the stock market. Tesla shares dropped 42% in December. They are now on pace to finish their worst quarter, year and year ever. Musk sold Tesla shares worth tens to billions of dollars this year in part for financing his $44 billion purchase Twitter.

After shares of Tesla The stock market plunged by over 10% Tuesday, deepening a year-long selloff, CEO Elon Musk Advised employees to not be “too bothered by stock market craziness.”

Musk sent out the comments via email to company employees Wednesday, which CNBC received. Musk told employees that Tesla must be restructured. “demonstrate continued excellent performance,” And that “long-term, I believe very much that Tesla will be the most valuable company on Earth!”

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Electrek blog on electric vehicle reported earlier via email.

Tesla shares are down 68% year-to-date, but they rose 3.3% on Wednesday, to $112.71. The stock is currently down 42% in December and poised to close its final quarter. worst month, quarter and year on record.

Elon Musk, SpaceX CEO and Tesla CEO, speaks with Todd Howard (not photographed) during a conversation at the E3 gaming convention, Los Angeles, California on June 13, 2019. Mike Blake | Reuters

Musk blamed The rising interest rate is partly responsible for Tesla’s falling share price. Critics point out his Twitter Takeovers as a larger culprit