Shares of Tesla have fallen 45% in two months since the Twitter acquisition. This is why.
December 24, 2022, 7:59 AMTesla and SpaceX Chief Executive Officer Elon Musk speaks at the SATELLITE Conference and Exhibition in Washington, March 9, 2020.In all, the company's stock has dropped more than 65% since January, when Musk began investing in Twitter. By comparison, the tech-heavy Nasdaq has fallen about half as far over that period.as head of Twitter when the company identifies a successor. The news temporarily buoyed Tesla stock before it again turned downward.
Moreover, some analysts and major investors have sharply criticized Musk over a perceived lack of focus on Tesla, saying the company needs leadership as it contends with an adverse business environment."Musk is viewed as 'asleep at the wheel' from a leadership perspective for Tesla at the time investors need a CEO to navigate this Category 5 storm," Dan Ives, a longtime Tesla bull and managing director of equity research at Wedbush, said in a research note on Thursday.
Tesla remains the top-selling electric vehicle company in the U.S., but its lead has slipped in recent months as competitors offer a host of affordable alternatives, a SThe company held 65% market share of new registered vehicles in the U.S. through the third quarter of this year, a drop from 71% last year and 79% in 2020, the report found.
The sales have reduced the stake Musk holds in Tesla, raising questions about his continued level of involvement with the company.
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