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Elon Musk is a busy man and recent Tesla stock prices are indicating that investors aren’t too happy about his multitasking.
On Tuesday, Tesla’s stock opened at its lowest point since August 2020 at just under $110.
The drop in price shares seems to be a reflection of concerns from Tesla investors who are witnessing Musk’s erratic and unwelcomed changes at Twitter.
In October Musk, 51, acquired Twitter for an astounding $44 billion.
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Since then, he has been devoted to changing the company and social media platform to reflect his views on free speech and content moderation.
In his brief time at Twitter, Musk has released “the Twitter files”, given everyone access to blue check marks, taken it away, then given it back.
He also fired most of the company, hired individuals to take over high-power positions, and then stepped down as CEO.
His constantly changing behavior and decisions have led to concerns from investors in his other companies.
Besides Twitter, Musk also serves as CEO of Tesla and SpaceX, founder of The Boring Company, and co-founder of Neuralink and OpenAI.
Should Musk continue to devote time and changes to Twitter, his other companies could be affected the same way Tesla’s stock has.
Already, the billionaire is involved in a lawsuit with Tesla where shareholders are concerned the massive compensation package they awarded to Musk is not keeping his attention on Tesla.
Additionally, Musk sold nearly $4 billion of his Tesla shares to pay for Twitter.
Some have suggested that these actions, and his recent behavior at Twitter, could implore Tesla shareholders and investors to force Musk to step down as CEO.
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