The shares of Tesla are descended from another -11% yesterday, December 27, 2022, marking an annual decline from last December’s almost -70%. With a market value of 344.5 billion of dollars, this means that in day only thereElon Musk’s company lost $44 billion: the same amount needed to purchase Twitter.
Tesla’s shares still fall by 11%, touching -70% in 2022
Last December 15, Elon Musk sold $3.4 billion worth of Tesla stock, causing a significant drop in the stock market. A week later, on the 22nd, the billionaire promised not to sell shares for at least 18-24 months. But he doesn’t seem to have stopped the bleeding yet.
Understanding exactly the reasons for this decline is difficult. The speculative day on the Stock Exchange produced stable results: iThe Dow Jones climbs 0.11%, the Nasdaq up 1.38%. Nothing that could directly justify Tesla’s price hike to $109.1 per share.
Production stopped in Gigafactory di Shanghai it was justified by the company with a week of “annual maintenance” and “staff rest”. Not enough, however, to justify a 44% drop this month, the worst ever for the electric car company.
On the other hand, investments by large South Korean groups remained very high throughout the year, despite the decline. It seems that the South Korea wants to position itself as a possible candidate for a new Gigafactory of the group. Also because there are companies that already work in the brand’s supply chain, such as L&F for batteries.
Many Tesla investors are blaming Elon Musk for the drop in stock value, saying the billionaire is doing too much Twitter and less his most profitable company. On the other hand, Twitter users voted for “fire” Musk as CEO of the social network.
KoGuan LeoTesla’s third largest shareholder, said that “the decline in share value would halt if someone else temporarily became CEO.” But it remains to be seen what Musk, who remains the first shareholder, and the entire board of directors will want to do. We will keep you posted.