Supply chain difficulties at Tesla's Shanghai factory and waning confidence in Elon Musk have led to a tough year for stock in the electric car maker.
Tesla stocks have slid to their lowest value in more than two years as the electric car maker plans to reduce its production cycle and investors worry how much time Elon Musk is dedicating to managing Twitter.staff telling them not to be"bothered by stock market craziness" and that Tesla will be the most valuable company on Earth in the long term.
"Please go all out for the next few days and volunteer to help deliver if at all possible. It will make a real difference!" he said in the email. "Btw, don't be too bothered by stock market craziness. As we demonstrate continued excellent performance, the market will recognise that," he said.The market value of the car company was wiped out to the tune of $720bn - on Wednesday afternoon Tesla stock could be bought for $108.71 a share, a low not seen since August 2020 and down from a high of $407.36 a share in November 2021.
Over the course of the year the price of a share has declined 70%, setting it on course to be one of the five companies with the biggest losses in the S&P 500 index of 500 large US-listed companies.
France Dernières Nouvelles, France Actualités
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