Elon Musk : Can He Turnaround Tesla, Twitter and Spacex
Elon Musk in the News over Tesla, Twitter, and SpaceX
- This has been particularly a rough week for the richest person in the world, Elon Musk, amid various issues in his different companies.
- Tesla’s stock price is dropping, and there are internal issues at the company that isn’t helping.
Elon Musk and Tesla?
- Tesla’s stock dropped 6% last week and has lost almost half its value since peaking in November.
- Tesla vehicles accounted for nearly 70% of reported crashes involving advanced driver-assist systems since last June.
- Tesla hiked prices for all car models in the U.S. this week amid supply chain issues and rising inflation.
- Musk also announced plans to cut 10% of Tesla’s workforce amid current economic uncertainty.
Elon Musk and SpaceX?
- SpaceX fired a group of employees who circulated an internal letter calling Musk a “distraction and embarrassment.
- The regulator has issued a list of more than 75 environmental mitigation actions for SpaceX.
- Musk’s first meeting with Twitter staffers did not go as planned as employees still had concerns over the future outlook.
- Elon Musk, SpaceX, and Tesla were sued for $258 billion for the alleged Dogecoin Pyramid Scheme.
Elon Musk's Stocks: Analysts Cautious!
- Analysts remain bullish on the stock but have lowered the target price to $1,000 amid current uncertainties.
- Brokerages like UBS, Goldman Sachs, and Jefferies have maintained a ‘Buy’ call on the stock.
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- Why Elon Musk is famous?
Elon Musk is the celebrity investor and founder of various known brands such as Paypal, Tesla, SpaceX, Boring Company, Neuralink, and OpenAI.