Tesla shares have fallen 28 percent since Elon Musk took over Twitter

Liputan6.com, Jakarta – Shares of electric car maker Tesla have fallen 28 percent since October 27, 2022. This correction in Tesla stock has occurred since Tesla CEO Elon Musk bought Twitter and appointed himself the head of the twit or CEO of the network business. social.

Quote CNBC, Wednesday (14/12/2022), in comparison, automakers including Ford, GM and Volkswagen have improved since October 27, 2022, as has BYD, a Chinese company that makes cars and electric batteries. Meanwhile, American electric car maker Rivian fell 27 percent in the same period.

In stock trading on Tuesday, December 13, 2022, Tesla shares closed up more than 4 percent to $160.95. It was a rare exception among growth-oriented technology stocks, which were more buoyant after cold inflation data than expected.

The collapse of Telsa’s stock price has caused Tesla’s largest retail shareholder, billionaire Leo Koguan, who is the founder of IT services company SHI International, to ask the company’s board to use shock therapy to revive stock prices through stock purchases.

Musk sold his billion-dollar Tesla stock to fund his Twitter takeover. Since Elon Musk took over the company, Musk has frequently posted provocative tweets, particularly aimed at those who hold centrist political values ​​and whom Musk describes as enemies with an “awakened mind virus”. For example, Musk targeted the Director of the National Institute of Allergy and Infectious Diseases Dr. Anthony Fauci.