CEO Elon Musk has faced pressure from investors over his preoccupation with Twitter.
Shares have lost about 65% from the start of the year, amounting to a loss of more than $700 billion in market value. But Musk, who has also seen his personal net worth tumble alongside Tesla shares, has tried to shrug off the carnage.craziness. As we demonstrate continued excellent performance, the market will recognize that," he told Tesla employees in a message earlier this week.
And the Tesla company is holding $50B in cash trading at $123.18. Ford’s stock closed at a $1.07, losing 30.9% in 2022 and GM $33.64 closing down 42.13% for the year. Any bets as to who is going to weather recession better?
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