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Key Words: Musk reportedly tells Tesla employees: ‘Don’t be too bothered by stock-market craziness’


“‘Btw, don’t be too bothered by stock market craziness. As we demonstrate continued excellent performance, the market will recognize that. Long-term, I believe very much that Tesla will be the most valuable company on Earth!’”

— Elon Musk

That was Tesla’s — and Twitter’s, as well as SpaceX’s — chief executive officer, Elon Musk, addressing employees in an email on Wednesday, according to Reuters, which reportedly saw a copy. In the message he also encouraged them to give one last big push on deliveries for quarter’s end.

“Please go all out for the next few days and volunteer to help deliver if at all possible. It will make a real difference!” he reportedly told Tesla workers. MarketWatch has reached out to Tesla for comment

Musk’s apparent attempt to motivate workers comes as shares of the onetime stock-market darling

head for their worst-ever annual performance, having recorded a loss of nearly 70%. That’s as the overall stock market and high-profile tech names have struggled in a year that has brought war, recession worries and rising interest rates.

The email came as shares of Tesla broke a seven-session losing streak on Wednesday, the longest such string in more than four years. Thursday was turning into another upbeat day for the shares, up around 6% in early trading.

Investors have been selling Tesla shares partly due to concerns over a production pause in China and a perception that Musk has let his $44 billion takeover of Twitter early this year interfere with his running of the electric-car company.

Read: Tesla stock is the most oversold it has ever been

And: Tesla target lowered at Baird over ‘potential’ for weakening demand

There were some hopes that Tesla’s stock may have reached a bottom of sorts, with shares up another 2.9% in premarket trading on Thursday.

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