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Elon Musk Tells Tesla Employees To Ignore Stock Market Madness

SpaceX owner and Tesla CEO Elon Musk speaks during a conversation with legendary game designer Todd Howard (not pictured) at the E3 gaming conference in Los Angeles, California on June 13, 2019.

Mike Blake | Reuters

After shares of Tesla fell more than 10% on Tuesday, deepening a year-long selloff, CEO Elon Musk told employees not to be “too bothered by stock market craziness.”

Musk circulated the comments Wednesday in a company-wide email, which CNBC obtained. He told employees that Tesla needs to “demonstrate continued excellent performance” and that “over the long term, I believe very much that Tesla will be the most valuable company on Earth!”

The electric car blog Electrek reported earlier on the email.

Tesla shares are down about 68% for the year, although they rose 3.3% on Wednesday to $112.71. The stock is down 42% in December, and is poised to end its worst month, quarter and year on record.

Among other things, Musk has blamed Tesla’s falling share price on rising interest rates. But critics point to his Twitter takeover as a bigger culprit for the slide, which has wiped out about $675 billion in market value this year as of Wednesday’s close.

In the email, Musk thanked Tesla employees for their work in 2022, urged them to push hard for a strong fourth-quarter finish, and asked them to “volunteer to help deliver” cars to customers before midnight on December 31, if at all. possible.

During the final days of most quarters, Tesla enlists employees from across the company to bring new cars to customers to meet or exceed stated delivery targets, work that is normally limited to people on the sales and delivery teams. The company has targeted 50% year-over-year growth in vehicle deliveries, but has warned investors that it may not reach that target every year.

Musk’s attention has been focused on Twitter lately. The CEO of Tesla and SpaceX sold tens of billions of dollars worth of stock in his electric car company in 2022 to finance its $44 billion acquisition of the social media company.

Here is the text of the email Musk sent to Tesla employees on Wednesday:

From: Elon Musk

To all

Subject. The last days

Date: 28 December 2022 [Time Stamp removed]

Just a quick note to thank you for your hard work and congratulate you on an exceptional 2022!

As we have many cars arriving at the last minute, it is important to collect hard and do everything we can to get our cars to customers who have ordered them before midnight on December 31st. Also, every incremental car we produce that can be delivered on time also matters.

Please over the next few days volunteer to help deliver if possible. It will make a real difference!



Btw, don’t get too bothered by stock market craziness. As we continue to show excellent performance, the market will realize that. In the long term, I very much believe that Tesla will be the most valuable company on earth!

SEE: Musk’s vision has always been bigger than just cars

Elon Musk Tells Tesla Employees To Ignore Stock Market Madness

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