TOBY SHAPSHAK: Musk’s multitasking revs into red zone
Tesla’s stock price plunge coincides with a Musk bid for Twitter and a rant about the Democrats
26 May 2022 - 05:00
It’s hard to overlook the $400bn hit to Tesla’s value since CEO Elon Musk disclosed on April 4 that he had bought 9.2% of Twitter shares for $2.9bn.
The share price has plunged more than 40% since then; this “vaporising” of the formerly $1-trillion company “has called attention to the risks that the company faces”, writes The New York Times (NYT). “These include increasing competition, a dearth of new products, lawsuits accusing the company of racial discrimination and significant production problems at Tesla’s factory in Shanghai, which it uses to supply Asia and Europe.”..
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.