Tesla stock hit its lowest level in two years. The electric car manufacturer has been in free fall on the stock market since its CEO Elon Musk also took over the management of Twitter in April.
In November 2021, Tesla stock was at its peak and worth $407.36. In the meantime, it has lost 70 percent of this value. The company seems to be grappling in particular with problems of logistics and supply of parts. This supply has been under pressure for some time now due to the anti-covid measures taken in China (which were this week for the first time greatly relaxed).
However, investors also say they are concerned regarding the direction of CEO Elon Musk himself. The latter seems to be especially concerned regarding changes to be made at Twitter, the social network he bought earlier this year. At the beginning of December, he once more sold Tesla shares for billions of dollars, in order to finance this operation. This led to a collapse in the automaker’s market value. Musk has meanwhile promised not to shed any more Tesla shares in the near future.
In November 2021, Tesla stock was at its peak and worth $407.36. In the meantime, it has lost 70 percent of this value. The company seems to be grappling in particular with problems of logistics and supply of parts. This supply has been under pressure for some time now due to anti-covid measures in China (which were this week for the first time greatly relaxed). However, investors also say they are concerned regarding the direction of CEO Elon Musk himself. The latter seems to be especially concerned regarding changes to be made at Twitter, the social network he bought earlier this year. At the beginning of December, he once more sold Tesla shares for billions of dollars, in order to finance this operation. This led to a collapse in the automaker’s market value. Musk has meanwhile promised not to shed any more Tesla shares in the near future.
