Tesla's Musk Urges Employees to Hold Stock Amid 50% Share Price Drop

Elon Musk, the CEO of Tesla Inc., recently addressed his employees in an all-hands meeting, aiming to boost morale amidst a significant decline in the company's share price. Over the past three months, Tesla's stock had dropped by more than 50%, causing concern among employees and investors. Musk acknowledged the challenging period, describing it as "a little bit of stormy weather," and sought to reassure his team that the company would overcome these difficulties.

During the meeting, Musk addressed several issues that have been negatively impacting Tesla's image. He made light of the media reports about Tesla vehicles catching fire and discussed the backlash he has faced for his involvement in political affairs, which has led to vandalism targeting Tesla properties. Despite these challenges, Musk maintained a positive outlook on Tesla's future, reiterating his belief that Teslas are close to achieving full autonomy with just a software update.

Musk's primary message to employees was to hold onto their company stock, emphasizing that Tesla's best days are yet to come. He highlighted the company's achievements, such as the Model Y being the best-selling car globally, and hinted at the launch of more affordable models in the first half of the year. However, he did not provide specific details about these upcoming vehicles.

Musk's words came at a time when Tesla's sales and shipments have decreased significantly in key markets. The company has temporarily halted the production of its popular Model Y to retool production lines for a redesigned version. This pause, combined with political pushback, has contributed to the recent decline in Tesla's stock price.

Musk's reassurances to his employees underscore his confidence in Tesla's long-term prospects. Despite the current challenges, he believes that the company's innovative technology and strong brand will continue to drive growth and success. As Tesla navigates through these "rocky moments," Musk's message to his employees is one of resilience and optimism, encouraging them to stay the course and hold onto their stock.