For most of its history, Tesla surprised investors with huge profits, and Elon Musk himself mocked people who took short positions. The amazing rally of the electric car manufacturer ran from 2019 to the end of 2021. However, all good things must come to an end sometime in 2022, Tesla shares turned out to be a big loser and fell by over 60%.
Will Elon Musk’s promises calm the situation down? Tesla stock is crashing
The billionaire’s comments came after Tesla’s stock sell-off deepened on Thursday amid concerns about waning demand for electric cars and Musk’s distraction from Twitter and his stock sale. – He predicts that the economy will be in a severe recession in 2023 and the demand for large items will be lower. I won’t be selling stock for probably two years from now. Definitely not next year under any circumstances and probably not next year,” Musk said.
Tesla quotes. Source: TradingView After this comments Tesla shares rose 3% to $129.23 in after-hours trading on Thursday after falling 8.9% during the session. It is worth remembering that Musk had previously made promises not to sell Tesla shares, which he broke
Tesla shares plunged 9% on Thursday after Tesla started offering deep 7.5 thousand. dollars off for US consumers, fueling investor concerns about softening demand as the economy slows. “I think there will be some macro drama that is higher than people currently think,” he said, adding that homes and cars will get “disproportionately affected” by economic conditions.
We also recommend: Musk will step down as CEO of Twitter! The billionaire is looking for a “fool” to replace him
Musk said Tesla is close to picking a location for its new “Gigafactory.” The company may announce the construction of a “Gigafactory” in the northern Mexican state of Nuevo Leon on Friday, with an initial investment of between $800 million and $1 billion, local newspaper Reforma reported on Monday. “Tesla’s board is open to buybacks, but that will depend on the scale of the recession,” Musk said. Last week, Musk revealed another $3.6 billion in stock sales, bringing his total sales since late last year closer to $40 billion. “I had to sell some stock to protect myself even in the worst-case scenario,” said the billionaire. Elon Musk recently asked more than 122 million of his Twitter followers whether he should step down as CEO of the social media platform. He noted that he would respect the community’s choice and adapt to the results of this survey.
Should I step down as head of Twitter? I will abide by the results of this poll. — Elon Musk (@elonmusk) December 18, 2022
When asked if he would bring someone like venture capitalist David Sacks to run Twitter to allow him to focus on Tesla, Musk dodged the question and said Twitter is a relatively simple business. “Twitter is maybe 10% of Tesla’s complexity,” Musk said. Musk said earlier this week that he would step down as Twitter boss as soon as he found “someone stupid enough to take the job.” In response to concerns that his political views and controversial comments would alienate some people, he said: “I’m not going to suppress my views just to drive up the stock price,” Musk said in response to concerns that his political views and controversial comments would alienate some. At the same time, I would like to remind you that every Sunday, just before the opening of the markets, we hear each other during the traders’ briefing. During the meetings lasting about 2 hours, we will present everything that should be paid attention to in the coming days. In addition to fundamental analysis, we will also look at the technical situation on the most interesting looking financial instruments.
Meeting plan:
Overview of the most popular instruments in technical terms Analysis of instruments proposed by the participants of the meeting Overview of the most important publications planned for the coming week
Let’s meet just before the markets open!
Take part in the traders’ briefing with Arkadiusz Jóźwiak I also invite you to our Facebook group “Sunday Traders”
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