Tesla’s shares hit their lowest level in over two years on Tuesday, closing at $137.80, a significant drop of 8.05% from Monday’s close. The drop has sparked concern among investors, with Twitter investor Ross Gerber tweeting, “Tesla stock price now reflects the value of having no CEO.”
In response to Gerber’s tweet, Tesla CEO Elon Musk offered an explanation for the dip in the company’s stock price. Musk stated that macroeconomic factors, specifically the approach of savings account rates to stock market returns, have caused people to sell their stocks.
It is worth noting that the dip in Tesla’s stock price comes after a period of strong performance for the company. In recent years, Tesla has seen tremendous growth in both its production and sales, with the company’s electric vehicles becoming increasingly popular among consumers.
Despite the recent dip, many investors remain optimistic about the future of Tesla. The company has a loyal customer base and a strong brand, and many believe that it will continue to thrive in the long term.
Overall, the drop in Tesla’s stock price has raised some concerns among investors, but it remains to be seen how the company will weather this latest challenge. With a strong track record and a devoted customer base, there is still reason to be hopeful about the future of Tesla.
Food fan. Lifelong problem solver. Communicator. Organizer. Twitter buff. Total bacon enthusiast. Wannabe beer geek.