Elon Muskis the flagship of company Tesla‘s stock hit a two-year low of $150.04 on Friday morning, the latest in the billionaire’s recent acquisition and chaotic management of twitter destroys the cornerstone of the financial empire.
The stock drop comes after Musk kicked several prominent journalists off the platform in the morning, and after Musk spent the better part of this week uploading more. 22 million shares Tesla shares are worth more than $3.5 billion. Musk is now almost sold out 40 billion dollars in the value of the electric car company’s shares over the past year.
Musk’s whirlwind takeover of Twitter, a deal announced in April and finalized in October, has coincided with a truly rocky year for tech markets. But Tesla underperformed the NASDAQ’s Technology Sector Index (NDXT) by more than 20 points. Company from Friday It fell to 57.12 percent to date compared to NDXT fell 35.53 percent. Company value landed down from $1 trillion at the beginning of the year to less than $500 billion, costing Musk the “title.”the richest man in the world” in the process.
Friday’s drop came after Musk quit New York Times news reporter Ryan Mack🇧🇷 The Washington Postof Drew HarwellMashable’s Matt BinderCNN reporter Donie O’SullivanThe Intercept’s Micah Leefreelance reporter Aaron Rupar, political commentator Keith Olbermann and freelance journalist Tony Webster from Twitter. Many criticized Musk’s content moderation decisions. Earlier this week, Musk impulsively rewrote Twitter’s content policies to make any posts, including real-time location data, a banable offense. It appears that the platform-wide policy change was created backwards to justify the platform Deleting Jack Sweeney accounts, which tracks the movements of aircraft and private jets through publicly available aviation data. Musk accused journalists covering Sweeney’s ban of publishing “my real-time location, basically the coordinates of the conspiracy, in (apparent) direct violation of the Twitter terms of service.” Rolling Stone He did not identify cases of journalists sending direct coordinates to Musk’s location.
throughout the week, investors called He turned to Musk to find someone else to run Twitter’s day-to-day operations and refocus on Tesla. On Wednesday, Leo KoGuan, the EV company’s third-largest investor, tweeted that Musk had “left Tesla” and that the company “does not have a working CEO.” Investor Joe Cirincion after the journalistic cleaning of the platform the bell tweeted Musk’s departure from Twitter accused him of “killing the company with his gimmicks.”
The company itself he admitted are “heavily dependent on the services of Elon Musk, Tesla’s Technoking and our CEO” to run the company. If investors are aware, big financial institutions should also take it into account. Goldman Sachs lowered price targets For Tesla earlier this week, Musk advised the company to return to its “core attributes of sustainability and technology,” citing the increasingly “polarizing” nature of the Tesla brand, given Musk’s presence on Twitter.
there is also musk is facing the threat of sanctions abroad. European Commission Vice President Vera Jourova accused the company on Friday of violating the EU’s Digital Services Act and Media Freedom Act by “arbitrarily suspending journalists”.
“There are red lines,” he said he tweeted🇧🇷 “And sanctions, soon.”
Leave a Comment