https://sputnikglobe.com/20221231/tesla-experienced-worst-annual-stock-drop-of-65-in-2022--1105956065.html
Tesla Experienced Worst Annual Stock Drop of 65% in 2022
Tesla Experienced Worst Annual Stock Drop of 65% in 2022
Sputnik International
US electric car maker Tesla experienced its worst annual stock decline of 65% in 2022, the US business media report.
2022-12-31T13:38+0000
2022-12-31T13:38+0000
2022-12-31T13:38+0000
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According to the media, Tesla stock fell 65% from the start of the year, or over $700 billion in market value, despite the company’s shares trading 1.12% up by the end of the 2022 last trading session on Friday. On December 29, US media reported, citing a company-wide email, that Tesla CEO Elon Musk told his employees that there was no need to be bothered by a slump in the electric vehicle maker’s shares, which were down 42% in December. In June, Musk reportedly asked the company’s management to cut about 10% of staff for economic reasons. In late October, Musk finalized the $44 billion acquisition of Twitter. Media reported that the fall in the value of Tesla shares could be explained by investors' fears that Musk would pay more attention to the social network, which would negatively affect his carmaking business.
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elon musk, tesla, shares, stock market, twitter, is elon musk ruining his business
elon musk, tesla, shares, stock market, twitter, is elon musk ruining his business
Tesla Experienced Worst Annual Stock Drop of 65% in 2022
MOSCOW (Sputnik) - US electric car maker Tesla experienced its worst annual stock decline of 65% in 2022, US business media reported.
According to the media, Tesla stock fell 65% from the start of the year, or over $700 billion in market value, despite the company’s shares trading 1.12% up by the end of the 2022 last trading session on Friday.
On December 29, US media reported, citing a company-wide email, that Tesla CEO Elon Musk
told his employees that there was no need to be bothered by a slump in the electric vehicle maker’s shares, which were down 42% in December.
In June, Musk reportedly asked the company’s management to cut about 10% of staff for economic reasons.
In late October, Musk
finalized the $44 billion acquisition of Twitter. Media reported that the fall in the value of Tesla shares could be explained by investors' fears that Musk would pay more attention to the social network, which would negatively affect his carmaking business.
