Tesla investors frustrated with Elon Musk over Twitter chaos: 'Like he's abandoned us'
The billionaire’s sale of at least $36 billion worth of Tesla stock to fund his Twitter deal has contributed to the pressure on shares.he recently sold shares worth $30,000 after getting fed up with Musk’s Twitter drama.
Another investor, Earl Banning, plans to keep his thousands of shares of Tesla stock – though he admitted that Musk has “lost a lot” of his supporters through his Twitter antics.“It’s been so unnecessary,” Banning said. “You’ve got a great car company — just stop it.” His involvement at Twitter has also sparked concern among investors that Musk is being stretched too thin. Aside from his roles as CEOs of Twitter and Tesla, Musk is heavily involved in operations at private space firm SpaceX as well as brain chip company Neuralink and the tunnel-digging Boring Company.
“At the end of the day Musk is Tesla and Tesla is Musk. Any black eyes for Musk in the Street’s view will be reflected in Tesla’s stock,” Ives wrote in a Nov. 23 note to clients.Despite the drama, Bloomberg noted that Tesla remains a favorite among retail investors. The company ranks as the second-most bought security among retail investors this year, according to data from investment analysis firm Vanda Research.
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