Elon Musk's Tesla has seen $600 billion wiped from its market value this year - and it's now worth less than Warren Buffett's Berkshire Hathaway
in market value, as investors continue to swap out riskier stocks for safer options, and worry Musk's Twitter takeover could be a costly distraction.
According to latest figures, Tesla stock has plunged by 52% this year, wiping roughly $600 billion from the automaker's market cap. Meanwhile, Berkshire shares have slid just 3%, leaving the conglomerate's market cap virtually intact. The contrast in their fortunes reflects how differently investors perceive the risk of holding each of their stocks.
Moreover, tech companies' lofty valuations, lack of steady cash flows, and more speculative investments often make them more vulnerable to economic downturns.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Furious Elon Musk Pledges to Ban Anyone Who Changes Their Display Name to 'Elon Musk'When it comes to making fun of the man himself, 'free speech absolutist' and new Twitter owner Elon Musk is pro-censorship and against 'impersonation.'
Read more »
As Musk focuses on Twitter, his $56 billion Tesla pay goes to trialAs Elon Musk is engulfed in his overhaul of Twitter, the entrepreneur is headed to trial to defend his record $56 billion Tesla Inc pay package against claims it unjustly enriches him without requiring his full-time presence at the carmaker.
Read more »
As Musk focuses on Twitter, his $56 billion Tesla pay goes to trialAs Elon Musk is engulfed in his overhaul of Twitter, the entrepreneur is headed to trial to defend his record $56 billion Tesla Inc pay package against claims it unjustly enriches him without requiring his full-time presence at the carmaker. A Tesla shareholder is seeking to rescind Musk's 2018 pay deal, claiming the board set easy performance targets and that Musk created the package to fund his dream of colonizing Mars. Tesla has countered that the package delivered an extraordinary 10-fold increase in value to shareholders.
Read more »
Tesla stock: Elon Musk may have to sell shares as Twitter losses mount'If that yields the current environment, he's gonna have to sell Tesla shares in April,' Loup managing partner Gene Munster told CNBC.
Read more »
Elon Musk faces Tesla trouble with 40,000 vehicles recalled as stocks dipMarket experts have suggested Musk's new position at Twitter may also have played a role in the share price drop.
Read more »
Elon Musk Heading To Trial Over $56 Billion Tesla Pay Package | CarscoopsElon Musk Heading To Trial Over $56 Billion Tesla Pay Package | Carscoops carscoops
Read more »