Musk Urges Tesla Employees to Hold Stock Amid 50% Drop
1min read According to Bloomberg, Elon Musk recently addressed tesla employees in an all-hands meeting broadcast, acknowledging the intense negative sentiment surrounding the company.
If you read the Tesla news, it feels like Armageddon, Musk remarked, joking that he can't walk past a television without seeing a Tesla on fire and mocking his critics.
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If you don't want to buy a Tesla, I understand, Musk added. But there's no need to set one on fire—that's just unreasonable.
Despite the 50% decline from Tesla's all-time high, Musk urged employees to remain committed.
"What I'm saying is—hang on to your stock," Musk told employees.
He then reiterated his long-standing vision that Teslas will soon achieve full self-driving capabilities, emphasizing the company's innovative roadmap.
"Sometimes, there are tough times," Musk admitted. "But what I want to tell you is that the future is unbelievably bright and exciting. We will achieve things no one has ever dreamed of."
Musk also defended Tesla's market position, highlighting the success of the Model Y.
How are we doing on popularity? Well, we actually literally make the best-selling car on Earth, of any kind, he stated.
While Musk has previously rallied Tesla employees—such as urging cost-cutting and production efficiency in 2020—he typically does so via internal emails. This marks the first time the company has held a public all-hands meeting.
Dan Ives, a Wedbush Securities analyst and longtime Tesla supporter, described the meeting as a first step for Musk to show he is going to lead Tesla through this tumultuous period.
