Elon Musk, the CEO of Tesla Inc., advised staff not to be “bothered by stock market buffer” after the company’s shares dropped over 70% this year due to concerns about waning interest in electric vehicles and Musk’s diversion from running Twitter.
He expressed his opinion that Tesla will eventually be the most valuable company on the planet in an email to the team that was sent on Wednesday and examined by Reuters. After the manufacturer gave discounts to its automobiles in China and the US, he also urged staff to strive hard to deliver cars before the end of this quarter.
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“Please give it your all during the next three days and, if at all feasible, volunteer to assist with delivery. It will really change things!” Musk added in an email for his employees. He further continued, “By the way, don’t worry too much about the crazy stock market. The market will acknowledge our sustained good performance as we demonstrate,”
The value of the shares held by Tesla’s employees decreased as the company’s stock price fell. For the majority of employees, including factory workers, Tesla has provided equity compensation.
After falling 11% the day before on news that the manufacturer planned to operate a restricted production schedule at its Shanghai factory in January, Tesla shares recovered on Wednesday. Concerns about a decline in demand in the largest auto market in the world arose from the news.
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“Long-term, I believe very strongly that Tesla will be the most valuable company on Earth,” Musk wrote in the email. The claim that he made is quite big, but Elon Musk is highly regarded to achieve big things in life.
