Tesla sinks on concerns over CEO Elon Musk’s erratic behavior

“Tesla Inc’s shares slumped as much as 9 percent on Friday after Chief Executive Elon Musk told The New York Times that his tweet last week about taking the company private was not reviewed by anybody,” Reuters reports.

“The electric car maker’s stock was set for its worst day in nearly five months as Musk’s comments come at a time when federal regulators are pressuring Tesla’s directors for details on how much information he shared with them,” Reuters reports. “The paper also reported that efforts were underway to find a No. 2 executive to help take some of the pressure off Musk, who has been dealing with production issues for its key Model 3 sedan and criticized for his erratic behavior on Twitter.”

“In the hour-long interview, where Musk choked up multiple times, he said: ‘This past year has been the most difficult and painful year of my career. It was excruciating.’ Musk stunned markets last week with a tweet that he was considering taking Tesla private for $420 per share and that he had secured funding,” Reuters reports. “The money-losing company has been burning through cash as it aggressively ramps up Model 3 production and come out of what Musk has called a “production hell”.”

Read more in the full article here.

MacDailyNews Take: Elon Musk sounds more and more like the Van Gogh of Moonshots with each passing day.

21 Comments

  1. Erratic behavior and the potential for all the lawsuits that will be filed because of the loss in value of TSLA shares further pushing the share price downl

      1. My thought also. Perhaps, just perhaps, the brain trust here in the lordly MDN commentary lack the underpinnings of perfect knowledge. We already knew they suffered from diarrhea of the mouth..

    1. On the contrary people in powerful positions (especially those who crave publicity) just need to be held to account for their actions. Nothing ‘hating’ about that surely.

      1. “Nothing ‘hating’ about that surely.”

        You seem to have missed the emotional tone of most people who say they are just holding Apple “to account”… e.g. spiteful, petulant, whiny, bombastic, nasty and – yes – hateful.

  2. No matter how this turns out, there’s a movie to be made about Elon’s adventures.

    Francis Coppola made a pretty good movie about car designer Preston Tucker.

  3. Elon Musk is a left-wing version of Trump. When things get tough he deflects attention into other areas (such as colonising Mars). He’s just as erratic as Trump, and is occasionally as gross (the Pedo comment which he later apologised over and Trump never does such a thing). It’s like Trump is the Ying and Musk is the Yang…without the gross comments about women and of course the groping stuff.

    I now await the incendiary comments from both sides of the aisle (sigh).

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