Beautiful Virgin Islands

Wednesday, Aug 27, 2025

Elon Musk emails staff as Tesla stocks reach two-year low

Elon Musk emails staff as Tesla stocks reach two-year low

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.

Musk emailed Tesla 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.

"Long-term, I believe very much that Tesla will be the most valuable company on Earth!"

The market value of the car company was wiped out to the tune of $720bn (£599bn) - on Wednesday afternoon Tesla stock could be bought for $108.71 (£90.45) a share, a low not seen since August 2020 and down from a high of $407.36 (£338.93) 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.

While the value of US stocks dropped over 2022, the benchmark loss was 20%, which Tesla's share losses far outpaced.

Musk took the reins of the social media company in October this year after he halted his legal battle over the alleged number of bot accounts on the site, and completed the deal for roughly $44bn (£36.6bn). His tenure has seen thousands of job cuts and an overhaul of functions on the site.

Investors are concerned that the purchase has taken up too much of the world's former richest man's attention as he stepped into the role of Twitter chief executive.

Tesla's fortunes have been mixed as it has planned to slow down output at its Shanghai factory but continued to grow profit, booking $3.3bn (£2.74bn) of profit in its latest earnings report for the third quarter of 2022.

The plant is to enter an extended lunar new year shutdown, Reuters reported, extending the one experienced this month.

It's not the first time output will be slow as the maker missed its output targets for the third quarter of this year, despite having built a record number of cars.

Given the surge in 1COVID1-19 cases across China, where some Tesla factories are based, it's expected production will take time to ramp up.

The company has also predicted, in its latest earnings report, that battery supply chain constraints will be the main factor stopping growth in the electric vehicle market in the medium and long term.

Aside from the slower production, investors are equally concerned about weakened demand and heightened competition in the electric vehicle market as traditional carmakers switch to electric production.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Spotify’s Strange Move: The Feature Nobody Asked For – Returns
Manhunt in Australia: Armed Anti-Government Suspect Kills Police Officers Sent to Arrest Him
China Launches World’s Most Powerful Neutrino Detector
How Beijing-Linked Networks Shape Elections in New York City
Ukrainian Refugee Iryna Zarutska Fled War To US, Stabbed To Death
Elon Musk Sues Apple and OpenAI Over Alleged App Store Monopoly
2 Australian Police Shot Dead In Encounter In Rural Victoria State
Vietnam Evacuates Hundreds of Thousands as Typhoon Kajiki Strikes; China’s Sanya Shuts Down
UK Government Delays Decision on China’s Proposed London Embassy Amid Concerns Over Redacted Plans
A 150-Year Tradition to Be Abolished? Uproar Over the Popular Central Park Attraction
A new faith called Robotheism claims artificial intelligence isn’t just smart but actually God itself
Deputy Prime Minister Angela Rayner Purchases Third Property Amid Housing Tax Reforms Debate
HSBC Switzerland Ends Relationships with Over 1,000 Clients from Saudi Arabia, Lebanon, Qatar, and Egypt
Sharia Law Made Legally Binding in Austria Despite Warnings Over 'Incompatible' Values
Italian Facebook Group Sharing Intimate Images Without Consent Shut Down Amid Police Investigation
Dutch Foreign Minister Resigns Amid Deadlock Over Israel Sanctions
Trump and Allies Send Messages of Support to Ukraine on Independence Day Amid Ongoing Conflict
China Reels as Telegram Chat Group Shares Hidden-Camera Footage of Women and Children
Sam Nicoresti becomes first transgender comedian to win Edinburgh Comedy Award
Builders uncover historic human remains in Lancashire house renovation
Australia Wants to Tax Your Empty Bedrooms
MotoGP Cameraman Narrowly Avoids Pedro Acosta Crash at Hungarian Grand Prix
FBI Investigates John Bolton Over Classified Documents in High-Profile Raids
Report reveals OpenAI pitched national ChatGPT Plus subscription to UK ministers
Labour set to freeze income tax thresholds in long-term 'stealth' tax raid
Coca‑Cola explores sale of Costa coffee chain
Trial hears dog walker was chased and fatally stabbed by trio
Restaurateur resigns from government hospitality council over tax criticism
Spanish City funfair shut after serious ride injury
Suspected arson at Ilford restaurant leaves three in critical condition
Tottenham beat Manchester City to go top of Premier League
Bank holiday heatwave to hit 30°C before remnants of Hurricane Erin arrive
UK to deploy immigration advisers to West Africa to block fake visas
Nurse who raped woman continued working for a year despite police alert
Drought forces closures of England’s canal routes, canceling boat holidays
Sweet tooth scents: food-inspired perfumes surge as weight-loss drugs suppress appetites
Experts warn Britain dangerously reliant on imported food
Family of Notting Hill Carnival murder victim call event unmanageable
Bunkers, Billions and Apocalypse: The Secret Compounds of Zuckerberg and the Tech Giants
Ukraine Declares De Facto War on Hungary and Slovakia with Terror Drone Strikes on Their Gas Lifeline
Animated K-pop Musical ‘KPop Demon Hunters’ Becomes Netflix’s Most-Watched Original Animated Film
New York Appeals Court Voids Nearly $500 Million Civil Fraud Penalty Against Trump While Upholding Fraud Liability
Elon Musk tweeted, “Europe is dying”
Far-Right Activist Convicted of Incitement Changes Gender and Demands: "Send Me to a Women’s Prison" | The Storm in Germany
Hungary Criticizes Ukraine: "Violating Our Sovereignty"
Will this be the first country to return to negative interest rates?
Child-free hotels spark controversy
North Korea is where this 95-year-old wants to die. South Korea won’t let him go. Is this our ally or a human rights enemy?
Hong Kong Launches Regulatory Regime and Trials for HKD-Backed Stablecoins
China rehearses September 3 Victory Day parade as imagery points to ‘loyal wingman’ FH-97 family presence
×