The automaker has lost 69% of its stock market value since the start of the year and 44% in December alone.
Elon Musk is a regular on Twitter. While the price of his company Tesla has been falling sharply for a few months, a message posted by the billionaire on Tuesday on the social network has accelerated this trend. The American entrepreneur found it appropriate to respond to a series of tweets published by the former Russian President Dmitry Medvedev and provided a list of astonishing events for 2023. The latter especially predicted the emergence of a Fourth Reich in Europe or even a civil war in the United States, where Elon Musk himself would be president. After these forecasts, the owner of Twitter responded and called these messages“epic”. A gap that sent Tesla’s stock plunging 11.41% to $109.10 on Tuesday.
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A few hours later, the Tesla boss returned to his remarks, explaining that they should be taken with irony: “These are the most absurd predictions I have ever heard.“On Wednesday, the automaker took a breather on the stock market, rising 3.31% to $112.71. A low price, at its lowest in more than two years, prompts a hunt for bargains. The company has even become the most popular stock among buyers on the Wall Street exchange this year. Tesla has lost 69% of its value since the start of 2022, and only 44% in December. But Tesla’s stock decline is not only due to Elon Musk’s erratic tweets: the war in Ukraine, the energy crisis and falling orders may well continue to darken next year.the stock market horizon for the American car brand.