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Tesla Shares Plummet 14%, Costing Elon Musk $18 Billion
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Tesla's stock price dropped 14% on Thursday, resulting in a $18 billion loss for CEO Elon Musk. The decline was attributed to the company's disappointing earnings report and plans to spend billions on AI.
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Tesla Shares Plummet 14%, Costing Elon Musk $18 Billion
Tesla's stock price plummeted 14% on Thursday, resulting in a $18 billion loss for CEO Elon Musk. The decline was attributed to the company's disappointing earnings report and plans to spend billions on AI. According to Forbes, this is the worst intraday selloff in Tesla shares in over a year. The report also stated that analysts are calling for tangible results from Tesla's robotics and robotaxi businesses. Musk's fortune was cut by more than $18 billion on Thursday, making it one of the largest losses for a single day in his career. The decline in stock price has significant implications for Tesla's future and its ability to compete in the electric vehicle market.
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