He also closed the Twitter deal at the original $44 billion price, which set off a series of layoffs, lawsuits, and numerous antics that have changed the structure of Twitter.
#YAHOO FINANCE TESLA FULL#
"The factories are running at full speed, and we’re delivering every car we make and keeping operating margins strong," Musk said on Tesla's earnings call. In the same month, Tesla missed Q3 earnings, though Musk stated that the company had "excellent demand for Q4." October brought more COVID outbreaks, and China locked down once again. Still, long-term relief for Tesla was not in sight. When Musk called to scrap the Twitter deal, Twitter sued, and Musk ultimately ended up following through on his purchase.
The stock again went into an unstable zone. He sold 75% of Tesla's bitcoin by July for regular cash, which at the time of purchase Musk had declared he would not sell. In June, mass layoffs in Nevada resulted in a lawsuit against the company for violating federal law by not providing advance notice of job cuts. The tough quarter brought Tesla's public image under scrutiny, and uncertainty with the stock grew further. On May 24, the stock hit its lowest level for the quarter at $209 per share. The second quarter was even more detrimental for Tesla stock. Tesla investors were disappointed that the stock was being used to fund Musk's purchase, which further tanked shares.Īfter the sales were publicized, Musk tweeted: “No further TSLA sales planned after today.” He sold $8.4 billion worth of stock in less than a week followed by another $4.4 billion two days later. He needed money to become the owner of Twitter and began selling Tesla stock in April. Tesla logo and Elon Musk silhouette are seen in this illustration taken, December 19, 2022.
0 kommentar(er)
