A lot of people don’t like Elon Musk, but he’s accustomed to it. He enjoys these conflicts as much as anyone. Even when he’s meant to be on their side, he sometimes goes out of his way to rile them up. At Tesla (TSLA) – Get Free Report, he is known as “The Techno King,” and he is notorious for deflecting and redirecting attacks back at his adversaries. Defending himself is when the serial entrepreneur truly shines.
He is familiar with these enemies. His knowledge of their strategies allows him to counter them. Some of the critiques may bother him, yet he always seems to come up with the perfect comeback to silence his critics.
A large portion of his fan base are ardent Tesla supporters, therefore he can also rely on them. They have faith in his claims that he can change the world and advance humanity. When he unveils a new product, they cheer his rebellious spirit and proclaim him a genius. A loyal following was something on which the millionaire could always depend.
The Revolt of the Retail Investor
However, he did not count on the fact that some of his followers would really try to harm him. Since he always assumed they would be faithful to him, he never made any contingency plans. Musk was, as it turns out, incorrect.
Some retail investors have been vocal in their criticism of Tesla‘s CEO for a number of weeks now. Leo KuGuan, behind Musk and Oracle (ORCL) – Get Free Report co-founder Larry Ellison, is the automaker’s third-largest individual shareholder, and he has openly spoken out against Musk.
“I am 100% in Tesla bc I believe in Elon Musk and Tesla,” KoGuan wrote on Twitter on Jan. 7. “But he is killing SH and Tesla. If I knew I wouldn’t invest in Tesla.” “Elon invested ≈$200mm but took out $40B, Larry invested $1B, I invested over $3B, I have no choice but to act and speak out. I cry out to U for help!”
I am 100% in Tesla bc I believe in Elon Musk and Tesla. But he is killing SH and Tesla. If I knew I wouldn’t invest in Tesla
Elon invested ≈$200mm but took out $40B, Larry invested $1B, I invested over $3B, I have no choice but to act and speak out.
I cry out to U for help! https://t.co/ariNswYCQE
— KoGuan Leo (@KoguanLeo) January 8, 2023
The recent drop in Tesla’s stock price has led some investors to voice their displeasure. More than $600 billion in market capitalization was wiped out in a single year when Tesla stock dropped by 65% in 2022. Since the beginning of 2022, Tesla’s market value has dropped from nearly $1 trillion to its current $357 billion.
Tesla stock dropped $8.2% in the first four trading days of 2023, closing at $113.06. Many Tesla shareholders blame Musk’s $44 billion acquisition of Twitter for the company’s stock market disaster, despite Musk’s claims that macroeconomic reasons like the Federal Reserve’s aggressive interest rate rise to combat inflation and the energy crisis in Europe are to blame.
They say Musk abandoned Tesla when he decided to focus on the social media giant. What’s more, he constantly attacks progressives and Democrats on Twitter, alienating many potential Tesla purchasers in the process.
Tesla Outperforms Its Rivals
As of December 5th, according to WallStreetZen, 41.9% of Tesla shares were owned by retail investors. Approximately 43.19% of the stock is owned by institutional investors. Executives have the remaining 15% of the company’s stock.
Musk did previously defend himself against critics, but in recent times he has been unusually silent. This is because he is bound by corporate policy to remain silent until the release of financial results on January 25. Management must maintain silence until then to avoid favoring or disfavoring any one shareholder by affecting the stock price.
(Chart by James Stephenson) pic.twitter.com/rOHfjXGVmU
— Elon Musk (@elonmusk) January 8, 2023
Recently, though, the criticism has been increasingly heated, but Musk has discovered a method to answer that is both subtle and stunning. The entrepreneur just retweeted a graphic showing that only Tesla and General Motors (GM) – Get Free Report has increased sales of light automobiles in 2022 compared to 2021, out of all the major manufacturers active in the American market.
Every other automaker has witnessed a drop in sales compared to 2021. Over the course of a year, Tesla’s sales climbed by 44% while GM’s increased by only 3%.
Musk is used to the fact that he is disliked by many individuals. He takes as much pleasure as anybody else from these fights. A lot of the time, he goes out of his way to rile people up, even when he’s supposed to be on their side.
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