What’s not to like about a self-absorbed, Donald Trump supporting, greedy billionaire like Tesla CEO Elon Musk? Pretty much everything, and Musk is finding out that there are a lot of people who feel the same about him and his company. As the company’s problems increase, its valuation decreases, in no small part thanks to the smug and controversial attitude of Musk himself.
Maybe more building cars and rockets, less tweeting…https://t.co/JID45RtEUz
— Rick Wilson (@TheRickWilson) October 15, 2022
Musk’s Tesla, Inc. shares plunged in recent days, down from a recent all-time peak of $409.97 per share to just $204.99. There are some unavoidable reasons for the sudden decline – inflation has increased costs for businesses all over the world, including those where Joe Biden is not the president, and ongoing COVID-19 shutdowns in Shanghai have created new issues – but the company’s recent missteps and Musk’s own public persona contributed plenty.
The electric vehicles produced by Tesla have had their share of problems, but vehicle delivery in recent weeks have been stalled due to the logistical issues, and the rising price of those vehicles is making them less attractive. Musk’s public behavior in recent months, with moves to buy social media outlet Twitter and give the disgraced ex-president who staged a coup his account back, as well a history of questionable business practices, are behind the downfall of what was once a booming company.
According to Yahoo! Finance:
‘Chief Executive Elon Musk’s highly public attempt to first buy Twitter Inc., then to walk away from the deal and buy it again, has also been a drag on the stock, due to concerns that the company’s leader is spreading himself too thin between several challenging ventures.’
Twitter had a lot to say about the financial woes of Tesla, Inc., but none of it included any sympathy for its CEO. Read some of their comments below:
