Tesla stock tanks to its lowest. Here’s how Elon Musk reacted
c, in the wake of Elon Musk on Wednesday again blamed macroeconomic instability in the global economy. Tesla’s stock has plummeted since Musk purchased Twitter in April of this year. Tesla shares have fallen over 60 percent since April, and Musk is busy supervising daily operations at Twitter. Tesla bull Ross Gerber tweeted: “Tesla price today reflects the significance of not having a CEO. Excellent job Tesla BOD! – Time ..
Musk responded: “As bank savings account interest rates, which are guaranteed, start to approach stock market returns, which are not guaranteed, people will increasingly move their money out of stocks into cash, thus causing stocks to drop.” Gerber added the following “Tesla needs a media and comms team; Tesla needs a succession plan as well as clarify when Elon will be back from twitter; Tesla needs to communicate about Elon’s stock sales and a stand still agreement should be made”.