SpaceX owner and Tesla CEO Elon Musk speaks with legendary game designer Todd Howard (not pictured) at the E3 gaming convention in Los Angeles, California, June 13, 2019.
Mike Blake | Reuters
After the actions Tesla fell greater than 10% on Tuesday, deepening a year-long sell-off, CEO Elon Musk told employees not to “be too concerned about the stock market madness.”
Musk made the comments Wednesday in a company email received by CNBC. He told employees that Tesla must “show continuous excellent performance” and that “in the long run, I strongly consider that Tesla shall be the Most worthy company on Earth!”
Electrek electric vehicle blog previously reported by e-mail.
Tesla shares fell about 68% over the 12 months, though they were up 3.3% to $112.71 on Wednesday. The stock fell 42% in December and is poised to end its worst month, quarter and 12 months in history.
Musk blamed Tesla’s falling share price partially on rising rates of interest. But critics point to its takeover of Twitter as the larger wrongdoer of the slide, which worn out about $675 billion in market capitalization this 12 months since Wednesday’s close.
In the email, Musk thanked Tesla employees for his or her work in 2022, encouraged them to push hard for a robust fourth-quarter finish, and asked them to “volunteer to help deliver” cars to customers before midnight on December 31 if in any respect. possible.
In the last days of most quarters, Tesla enlists employees from across the company to deliver recent cars to customers to meet or exceed certain delivery goals, which is generally limited to people on the sales and delivery teams. The corporate was aiming for a 50% annual increase in vehicle deliveries, but warned investors that it may not meet that concentrate on every 12 months.
Musk’s attention has been on Twitter currently. The CEO of Tesla and SpaceX sold tens of billions of dollars value of stake in his electric vehicle company in 2022 to fund a $44 billion buyout of the social media company.
Here’s the text of an email Musk sent to Tesla employees on Wednesday:
From: Elon Musk
To all
Item Previous couple of days
Date: December 28, 2022 [Time Stamp removed]
Just a fast note to say thanks to your labor and congrats on an excellent achievement in 2022!
With many cars coming to us at the last minute, it is important to work hard and do every little thing in our power to get our cars to customers who ordered them before midnight on December thirty first. As well as, every incremental automobile we produce that will be delivered on time also matters.
Please do your best over the next few days and volunteer to help deliver if in any respect possible. It should make an actual difference!
Thanks,
Elon
Btw, don’t be concerned about the stock market madness. As we proceed to show excellent results, the market will appreciate it. In the long run, I strongly consider that Tesla shall be the Most worthy company on Earth!
WATCH: Musk’s vision has all the time been larger than simply cars