Elon Musk, CEO of Tesla, has addressed his staff during the company’s worst year on the stock market. He has assured Tesla workers that they need not worry about the market’s irrationality. Shares of the carmaker have fallen about 70% in 2022 because of concerns about waning demand for the company’s electric vehicles and Musk’s antics with Twitter in recent months, so his warning comes at a particularly bad time.
According to a Reuters article, Musk recently emailed Tesla staff to express his confidence that the automaker will become the most valuable firm in the world. Don’t let the hysteria on Wall Street worry you too much.
Markets respond to consistent excellence, he remarked, adding, “Over the long haul, I am certain that Tesla will be the most valuable business in the world!” Musk has also pushed Tesla staff to speed up the delivery of electric vehicles before the end of the quarter.
“For the next three days, I need everyone to pull out all the stops and provide their delivery assistance. Indeed, it will be a game-changer!” In the email, he said. His letter comes just after Tesla announced price cuts in the United States and China, both of which are expected to help the company’s sales momentum.
Meanwhile, forecasts indicate that Tesla will ship 442,452 vehicles in Q4 of 2022. According to the document, Tesla workers have seen less return on their investment in the company due to the plunge in the company’s stock price.
The majority of workers, including those on the assembly line, have been eligible to receive stock compensation from the automaker. Tesla’s stock fell 11% on Tuesday after the company said it will cut output at its Shanghai Gigafactory in January, but it recovered on Wednesday.
Tesla CEO Elon Musk has addressed his employees amid the company’s worst year on the stock market. Employees at Tesla, he has said, should not fret about the irrationality of the market. The company’s stock has dropped by almost 70% in 2022 because of worries about falling demand for its electric cars and Musk’s shenanigans with Twitter in recent months, so his warning comes at a particularly poor moment.
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