Investors critical of Musk’s focus on Twitter, Tesla shares hit 2-year low
Shares in electric vehicle maker Tesla have seen declines in pricing drop to a 2-year low, as the company’s founder places headline grabbing attention in his newest venture, the takeover of social media giant Twitter.
As Reuters reported, shared in Tesla saw extended price drops hitting their lowest level in 24 months on Wednesday.
One high profile investor who has been called a “fanboy” of CEO Elon Musk, harshly criticized the billionaire accusing him of being too distracted with his work at Twitter, instead of focusing on his electric car company.
While Tesla, seen as the world’s most profitable carmaker recently, has simultaneously somehow had its stock become one of the worst performers among automakers and tech brands alike.
Investors have expressed concern that Musk’s high-profile banter on his new acquisition of Twitter, and politics, could hurt the Tesla brand as more automakers enter the electric vehicle space as competition.
KoGuan Leo, Tesla’s third-largest individual shareholder, said, “Are we merely Elon’s foolish bag holders?”
Are you saying that Elon treated Tesla shareholders as his ATM to pursue his dream and glory in private companies and milking Tesla, the public company?
Taking money from public to his private companies?
Are we merely Elon’s foolish bag holders? https://t.co/OTysr9ag0c
— KoGuan Leo (@KoguanLeo) December 14, 2022
“An executioner, Tim Cook-like is needed, not Elon,” KoGuan said.
Others were more optimistic like bullish Tesla investor Gary Black who said, “Elon is a brilliant business leader. He will realize soon (if not already) that his polarizing political views are hurting customer perceptions of $TSLA EVs.”
While Black may have been adding that optimistic perspective to the public discourse for his own benefit, others on social media saw it as naive.
