Elon Musk is no stranger to dealing with critics, haters, and detractors. He even enjoys these fights.
Sometimes he provokes his supposed enemies.Techno King Known for Tesla (TSLA)- Get Free Report, likes to undo enemy attacks with counterattacks. Serial entrepreneurs are less lethal than when they are on the defensive.
He knows his angles of attack. Sure, some of these criticisms bother him, but he always finds a response to fight them off.
He can also count on many fans who are die-hard Tesla fans. They believe in his promise to transform the world and beyond our civilization. When he launches new products, they celebrate his iconoclastic side and hail him as a genius.
Billionaires always thought they could count on the support of these admirers.
What he didn’t expect was that some of these fans would come after him.
private investor rebellion
In recent weeks, Tesla’s chief executive has repeatedly been the target of criticism from some private investors.
Investor Leo Kwang, the automaker’s third-largest individual shareholder after Musk and Oracle (ORCL)- Get Free Report Co-founder Larry Ellison even went so far as to speak out against Musk.
Coguan tweeted on Jan. 7, saying, “I’m 100% for Tesla. I believe in Elon Musk and Tesla. But he’s killing SH and Tesla. If you knew, Tesla would I will not invest
“Elon invested about $200 million and got $40 billion. Larry invested $1 billion. I invested over $3 billion. I act and speak. I have no choice but to shout to U for help!”
These criticisms are the result of Tesla’s stock market crash. In 2022, Tesla’s stock will lose almost two-thirds (65%) of its value, and in a year’s time, his more than $600 billion market cap has evaporated. Tesla’s market cap is currently at $357 billion, and by early 2022 he was over $1 trillion. In his first four trading sessions of 2023, Tesla’s stock fell another 8.2% to $113.06.
Musk attributes this stock market catastrophe to macroeconomic factors such as: federal reserveto combat aggressive rate hikes in inflation And given Europe’s energy crisis, many Tesla shareholders say his $44 billion acquisition of Twitter is a big deal.
They claim Musk left Tesla behind when he set his sights on social media platforms. To make matters worse, he has alienated many Tesla buyers by regularly attacking progressives and more generally Democrats on Twitter. They are natural buyers of his advanced eco-friendly vehicles.
Tesla outperforms rivals
As of Dec. 5, individual investors collectively own 41.9% of Tesla shares, according to the company. wall street zenInstitutional investors hold the largest block at 43.01% of the stock. The rest is owned by company executives, about 15%.
Musk has responded to some criticism some time ago, but has been quiet lately.
This is undoubtedly due to the period of silence leading up to the company’s earnings announcement on January 25th. Until that date, management must remain silent so as not to affect the stock price.
But Mr. Musk has recently found a subtle and striking way to respond to criticism that has turned violent.
The entrepreneur retweeted a chart showing only Tesla and General Motors out of all the major automakers present in the American market. (GM)- Get Free Report was able to grow mini vehicle sales from 2021 to 2022. All remaining automakers are seeing lower sales compared to 2021.
Tesla’s sales increased 44% over the year, and GM’s sales increased 3%.
Musk said nothing else.
