The price of Tesla stocks dropped by approximately 11% this Tuesday along with a drop of 44% this month in December 2022.
In this troubled solution, the investors are bailing out on the stocks of Tesla citing the challenges ahead the tesla in the next couple of years in the EV market and considering the work and Management responsibilities of Elon Musk around his newly acquired company Twitter.
The tesla company is also undergoing challenges in the form of a halt in its production in China along with that the company has been struggling to get new buyers in China and America.The movement of selling of Tesla stocks has been intensified on Tuesday and they have been closing down by 11% in the US Stock Market.
With this movement once a top electric car maker company Tesla soon it will be on the verge of closing down with the worst month and similarly a quarter and year since its listing as a publicly traded company a decade ago. This price fall of Tesla stocks is considered to be worse than the price for Facebook parent company Meta stocks in recent years.
This is where Elon and his brother began selling billions of $TSLA
Nailed the top to the week.
Now down 72% after telling his fans to keep buying, as he kept dumping it. pic.twitter.com/OlJVECfsnm
— Stephen Geiger (@Stephen_Geiger) December 27, 2022
The stocks of Tesla which were considered one of the most valuable stocks in 2021 have been performing as the worst stock of 2022.
The latest drop in the prices of tesla stock is the result of a report issued by the Wall Street Journal where they mentioned a week-long production halt at the Tesla Shanghai facility. This production halt has been carried out because of the increase in Covid cases in the Chinese workforce of Tesla motors.
A similar report was also issued by the Reuters news media house where they mentioned that the plant will be able to reopen and operate in January for 17 days and then it will be having a break as a part of work-related established practices in China. One of the major cities of China, Shanghai has been troubled with a fresh wave of Covid patients this month.
The new 4680 packs will allow their manufacturing process to go from 17,600 weld points to only 1,660. This is what makes $TSLA the best company in the world. @elonmusk is obsessed with these types of efficiency improvements pic.twitter.com/WgM0TUgAD2
— D. Reyes (@MarketMaven2022) December 27, 2022
The price of Tesla shares has fallen by 73% which was considered as one of the record lows for tesla stocks in November 2021. The stocks of Tesla have also down by 69% in the year 2022 along with its double decline on the Nasdaq index. Along with Tesla some other major chemical such as Ford has been also down by 46% along with that General Motors is also having a fall of approximately 43%.
The Rise and fall of Tesla’s stock prices
The global car marker company Tesla got listed on the US stock market decade ago in 2010 and since its positive growth movement dropped only once in 2016 and that is by 11%.
Along with this fall of Tesla stocks, the CEO of Tesla Elon Musk is also selling his Tesla stocks in Big junk so that he will be able to bleed that cash into his newly acquired company Twitter. This can be analyzed from the fact that musk Sold approximately 22 million shares of Tesla company in mid-December which is equal to $3.6 billion.
Good thing the $tsla CEO is busy viciously attacking trans youth, promoting deadly Covid deniers, and kissing up to Russian mass murderers. pic.twitter.com/LRjMYo4yIl
— Tom Watson (@tomwatson) December 27, 2022
Prior to this sale Musk clearly mentioned on April 28th through his social media profiles that he will not be selling any of Tesla soon, but this selling move has been considered as a contradictory move to his previous views.
After the recent sale of Tesla stocks on December 22nd along must with his Twitter space he won’t be selling his Tesla stocks after this for approximately 18 to 24 months.
Elon Musk in his recent discussion and debate with one of the stockholders of Tesla mentioned that the reason for the decline of the stocks of Tesla is the increased US Fed rates. With this statement, Musk mentioned that people are increasingly moving their money out of the stock market with the increase in the prices and all the stocks are dropping.
Although these statements published by Elon Musk have not been able to change the minds of investors and tesla stocks saw a volume trade of approximately 201 million shares on Tuesday, which is considered as the second-highest trade in the year.
This trade is considered one of the top five trading days in terms of maximum volume transactions since December 13th this year.
$TSLA just shitting thru a monthly level as if it doesn’t exist.
Quite the inefficiency to be filled in yet… pic.twitter.com/GBMdR6133V
— XO (@Trader_XO) December 27, 2022
The prices of Tesla stocks dropped by approximately 44% in the month of December which showcases December as its worst month ever as the price of Tesla has never fallen by more than 25% in any month.
A similar move has been showcased with a 59% fall in Tesla stocks in the fourth quarter of the Year from its 38% water drop in the second quarter of the Year which was considered as worst period for Tesla.
The very recent move to compromise with the prices of their e-vehicle Tesla launch discount is on their model 3 and model Y electric vehicles, these discounts were given by Tesla to incentivize the customers from Mainland China who has been focusing on the December auto sales.
Along with this, the price of Tesla cars in the used car market has been constantly dropping with a 17% price drop from its high prices in June this year, this way it’s facing huge used car issues for Tesla.
With $TSLA already down 3% in pre-market trading, let's see what the CEO is up to: pic.twitter.com/28lyAjdhUB
— Eliot Higgins (@EliotHiggins) December 28, 2022
In all these issues the CEO of Tesla has been flooded with controversy in his newly owned company Twitter where she has been in allowing the ban users and releasing internal messages into Twitter about the previous handling of governments for election-related issues and covid. Musk has been also working on the constant changes in the policies of Twitter.
Sitting all these issues and controversies on Twitter and around Elon musk, many companies have started to pause or suspend their regular paid advertising campaigns on the Twitter platform.
Some reports also mention that the leadership of Elon Musk in Tesla has been considered a potential problem for the automaker industry. In all these issues some experts also mention the Recommendation of buying Tesla stocks, as Tesla has been taking considerable moves such as cutting prices and working on inventory disposal during the Global recession phase.
https://twitter.com/KiraChats/status/1607794822449954818
The investors of Tesla Elon Musk again want to focus all of his efforts on managing and stabilizing his majorly wealth-creating company Tesla in these hard times, rather than disposing more energy into Twitter.
As Elon musk sold off his major shares from Tesla in recent months he has been dropped from the rank of the world’s richest man this month and this position has been taken by Bernard Arnault who is CEO and chairman of LVMH, as per the recent ranking by the Forbes.
A research analyst at Roth Capital, Craig Irwin Mentioned that Elon Musk is really required to work on the operations of Tesla to give great cars to the users in this tough situation and he has proposed $85 as the target price of Tesla stocks and this movement.
Although the price of Tesla closed at $109.10 on Tuesday, it has been able to witness greater losses on Wednesday with a fall of 3.5% in the pre-trading hours of the US market.