Tesla Stock
The billionaire neglected the electric vehicle manufacturer in recent months, frustrating many retail investors.
Investors in Tesla stock will be significantly relieved by this.
The CEO and central boss of the electric vehicle maker, Elon Musk, has been the subject of ongoing speculation for several months.
The wealthy individual designed Tesla. Those who have invested in the business because they trust in his vision and his promises to transform the auto industry are reassured by his engagement enough.
The way Americans and people view the automobile has changed thanks to The Techno King, as he’s known at Tesla (NASDAQ:TSLA) – Get Free Report. He converted the vehicle into a mobile living space.
He stated that autonomous driving capabilities for Tesla vehicles would come soon. Even though Elon Musk has promised a fleet of autonomous Tesla vehicles by 2024, the most recent versions of Full Self-driving (FSD), Tesla’s advanced driver assistance system, allow the car to complete many moves on its own.
By the time the Cybertruck makes its debut in the middle of 2023, the serial entrepreneur will have tested every aspect of the pickup truck. One of the most widely awaited cars in recent years is this futuristic model.
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On September 30, during the group’s second AI Day, Musk emphasized that Tesla was more than just a car manufacturer. It is a technology project to change civilization as we know it.
The goal, according to Musk, was to “really shift the perception of the company away from, you know…a lot of people think we’re like, just a car company or we make cool cars, whatever.” This included showcasing Tesla’s capabilities in artificial intelligence, computer hardware, robotic actuators, and more. But most people are unaware that Tesla is arguably the market leader in real-world AI hardware and software and that we are developing the most innovative computer architecture since the Cray-1 supercomputer.
And Tesla is the place to be, according to Musk, if you’re interested in creating some of the most cutting-edge technology in the world that will significantly benefit the planet.
In light of Musk’s recent concentration on Twitter, which he acquired for a staggering $44 billion after a grueling six-month legal battle that forced Tesla into the background, Tesla’s price has fallen precipitously in recent months. Tesla’s stock is down over 51% in 2022.
Many retail investors haven’t hesitated in recent weeks to implore Musk to retake an interest in Tesla, which was previously the focus of the tech mogul’s attention. The billionaire has disregarded these calls for many months.
But the time has arrived because, on December 8, Musk posted multiple remarks regarding Tesla for the first time in months.
“Despite very tough circumstances, the Tesla Team has performed very well. On December 8, as analysts and supporters questioned the desire for Tesla automobiles in China, a vital market, Musk wrote on Twitter, “Could not be more proud of them.
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Then he justified the decline in the price of Tesla stock.
On December 8, the billionaire remarked on Twitter that “macro conditions are problematic” because of “energy in Europe, real estate in China, & ridiculous Fed rates in the USA.”
Musk is addressing critics who believe he has somewhat abandoned Tesla directly by delegating rather than micromanaging. A short while later, he tweeted that he would continue to serve on the boards of Tesla and SpaceX, the company that built the space shuttle, but said each of the businesses already had strong teams in place.
I still manage SpaceX and Tesla, but the staff there are so adequate that I don’t typically need to do anything.
Finally, he responded to a thread from tech analyst Pierre Ferragu on Tesla’s current problems: “Economic downturn: Could reduce delivery growth next year by 10-15pts, from the 50% level of today, and cost a few points of a gross margin standing at 30% today, while it would crush and bring to near bankruptcy incumbent manufacturers,” Ferragu said. “A competitive accelerator for $TSLA!”
Musk stated that it is usually advisable to avoid using margin loans on any company when macroeconomic uncertainties exist since stocks may fluctuate in ways unrelated to their long-term potential. Musk appeared to regret using Tesla shares as collateral to finance his Twitter deal.
Even though Musk wrote four tweets on Tesla on that particular day, he tweeted more about Twitter than the manufacturer, which is a significant improvement for the investors in the automaker compared to recent months.
The multibillionaire has restricted his recent tweets regarding Tesla to the occasional message confirming the release date of the most recent version of FSD or verifying the date of an occasion like AI Day.
Aside from that, Musk was no longer doing what he had been doing in the past to highlight Tesla’s accomplishments rather than inform on things to come. There are also one or two responses to investors who asked about the share repurchase program.
Featured Image: Unsplash @ Milan Csizmadia
