Canadian billionaire Elon Musk has announced that he will not sell Tesla shares for at least the next three years, as he believes the stock will recover soon.
As the electric car giant grapples with shareholder and investor dissatisfaction with its stock’s performance on Wall Street, Musk launches a far-reaching operation to get Tesla stock back on track.
After commenting on his position on Twitter last week and subsequently stepping down as his CEO at the company, Musk quickly began working to combat the parent company’s plunge in the stock market.
Tesla, which is trading at €121 per share at the time of his writing, is at its lowest level since 2020 and shows no signs of stopping its race to the bottom.
The constant Watcher on Twitter. The CEO of Tesla Motors made some sensational remarks, according to Guru, in which he essentially stated that between now and 2025, he will not sell any stock in the electric company.
The news rapidly reached the hearts of investors who saw in these remarks a reassuring three-year vision that positions Tesla as a haven asset. However, investors are still unaware of the exact timing of this recovery, so they cannot predict when it will start.
Musk, though, has very distinct plans and in the meantime sets a new record for automobile sales in Europe.
Elon Musk is upbeat about the shares of Tesla
Indeed, the Model Y appears to have created a masterpiece and won the hearts of the populace in Norway, a Scandinavian nation that is always highly conscious of fashion and the environment.
Sales of Elon Musk’s little gem, the Model Y, have skyrocketed in recent months.
Rooted in the Green Party, specifically the Green Party movement, this huge success saw Texas cars smash national sales records.
The previous best-selling car title in Norway was owned by the German Beetle in the 1960s and his 70s, which he achieved in 1969.
This year’s Model Y wipes out solid sales records for cute German cars and is an early sign of getting involved in Musk’s politics.
Meanwhile, the company’s CEO has emailed employees a restructuring plan for the upcoming quarter to mark this year’s layoffs.
The content of the email was an acknowledgment of the macroeconomic conditions in which we live and the difficulty in finding raw materials, especially those needed for chip manufacturing, and unfortunately, the new idea of confining them within the company. A policy is created.
Tesla will implement a new job cut plan next quarter, ushering in another massive wave of layoffs.
Meanwhile, Musk has announced that he will suspend hiring from the end of 2022 until the first quarter of 2023, and will revise his plans next spring.
In short, the company needs trust, and Musk recently scheduled a virtual race with Frenchman Arnault to reclaim the gold mine that sparked his battle for the title of the richest man in the world.
Corporate austerity and renewed confidence are the first steps in pulling stocks out of the market quagmire, and while we wait for the next quagmire, investors are hopeful that a selloff in New York will continue, perhaps aided by a recovery in the Nasdaq. I hope it stops. Standard & Poor 500.
While this feat seems grandiose, the Canadian naturalized entrepreneur has accustomed us to the impossible challenge over time.
Meanwhile, the stock has lost more than 65% of its market value on the stock market this year.
Last week alone his losses on Wall Street were 20%, indicating that something urgently needed to be done to bail out what was salvageable.
The CEO of Tesla’s communication specifically points in this direction and, like other tech businesses and beyond, encourages personnel downsizing and production cycle optimization.
Engineers are currently researching how to improve the production process to examine even the gigafactories.
To continually identify new “means” that result in lower costs and improved efficiency, the “streamlining” endeavour also involves interventions in material research.