Tesla CEO Musk tells employees not be “bothered by stock market craziness” after the electric vehicle company’s shares fall nearly 70 percent in 2022
Billionaire Elon Musk has called on his employees not to be distracted by the current market"craziness", assuring them that Tesla will one day become the world's most valuable company.
In an email sent to staff on Wednesday and reviewed by Reuters news agency, Musk said he believes that long term, Tesla will be the most valuable company on earth. About 2.85 percent of Tesla shares, or $8.36 billion, are shorted, according to financial analytics firm S3 Partners, adding that short selling was up by more than 8.98 million shares this year due to a drop in the stock price, which was partly driven by Musk's share sales to fund his Twitter purchase.
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