Tesla shares hit a 52-week low in trading on Tuesday (December 20) and closed on the New York Stock Exchange at about $138 a share, or 8 percent lower in one day.
Tesla CEO Elon Musk claims macroeconomic factors play a role in causing stock prices to fall.
Longtime Tesla fan Ross Gerber tweeted: “Tesla’s stock price right now reflects the value of not having a CEO. Tesla’s board of directors is doing a very good job. It’s time for a change.”
Gerber has launched an informal campaign where other shareholders can vote themselves onto Tesla’s board of directors.
Mr Musk tweeted back: “When interest rates on bank savings go up People started moving their money out of the stock market into cash. which caused the stock price to fall. Because bank interest is certain, but stock market investment is uncertain.”
CNBC reported that Tesla’s share price has fallen more than any other major automaker since Musk announced plans to buy Twitter in April. 2022. After that, Tesla shares are down 59%, Ford is down 26% and GM Motor is down 12%, while the S&P 500 is down 14%.
By InfoQuest News Agency (21 Dec ’22)
Tags: Tesla stocks , Elon Musk , Tesla
