During the All Hands meeting at the Company on Thursday, Elon Musk reassured Tesla employees about the automaker’s “bright and exciting” future, encouraging them not to sell their stocks despite the company’s declining valuation.
“There may be challenging times,” the billionaire CEO informed his employees. “But what I want to emphasize is that the future looks incredibly bright and promising, and I am committed to achieving great things that nobody thought possible.”
During the meeting aired on X, Musk urged employees to hold onto their stocks despite a 50% decrease in stock prices. Tesla has faced criticism due to tech executives’ roles in the Trump administration. Following Trump’s reference to Musk as the head of the “Governmental Efficiency Department” (DOGE), the world’s richest person has dismantled the entire federal agency, leading to issues related to diversity, equity, and inclusion.
As a response, Tesla owners are considering selling their vehicles, leading to a plummet in the company’s stock price and incidents of destruction of Teslas across the country.
Musk expressed his concerns, stating, “When I read the news, it feels like Armageddon. If you choose not to purchase our products, I understand, but resorting to burning them is unreasonable.”
The day before, Tesla issued a recall for the CyberTruck model due to issues with a part called a can rail, prompting the replacement of the assembly of affected vehicles for free.
Even long-standing financial supporters of the company lament the challenging political environment facing Tesla and the subsequent decline in its performance.
Dan Ives, managing director of Wedbush, described the current situation as a “brand tornado crisis” for Tesla due to the recent events surrounding the company.
Musk’s plea to employees regarding stocks is part of his efforts to stabilize stock prices and boost vehicle sales amid the ongoing challenges. Earlier this month, Musk stood alongside Trump in front of the White House to promote Tesla’s technological capabilities, with Trump expressing interest in purchasing the vehicles.
In conclusion, Musk reiterated his long-standing claims during the meeting, reassuring employees that Tesla vehicles would eventually be able to drive autonomously.
“I urge you to hold onto your stock,” Musk emphasized.
Source: www.theguardian.com
