Musk reassures Tesla employees
2022.12.29 01:34
Musk reassures Tesla employees
Budrigannews.com – After the shares of Tesla Inc. fell nearly 70% this year on jitters over weakening demand for electric vehicles and Musk’s distraction with running Twitter, the company’s chief executive Elon Musk told employees that they should not be “bothered by stock market craziness.”
Musk stated in an email that he sent to employees on Wednesday and Reuters reviewed that he believes that Tesla (NASDAQ:) will be the world’s most valuable business.
After the automaker offered discounts on its vehicles in the United States and China, he also urged employees to increase deliveries by the quarter’s end.
“Please do everything you can over the next few days and, if at all possible, volunteer to assist with delivery. It will have a significant impact!” he said in the email.
Refinitiv data indicates that analysts anticipate Tesla to deliver 442,452 vehicles in the fourth quarter.
The employees’ shares of Tesla stock have lost value as a result of the company’s falling share price. Stock compensation has been offered by Tesla to most employees, including factory workers.
Following a 11% drop in the previous session due to a Reuters report that the automaker planned to run a reduced production schedule in January at its Shanghai plant, the company’s shares rebounded on Wednesday. The news raised concerns that the world’s largest auto market would see a decrease in demand.
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Also, don’t be too bothered by the craziness of the stock market. “The market will recognize that as we demonstrate continued excellent performance,” he stated.
“Long-term, I strongly believe that Tesla will be the world’s most valuable company!”
NYSE: Morgan Stanley According to the analysts, the last two years of supply exceeding demand will be “substantially inverted to supply exceeding demand” in 2023, reducing the stock’s price target from $330 to $250.
