Why Tesla Is Suddenly In Terrible Shape
Since the circus surrounding the Twitter takeover, Tesla stocks have significantly decreased. Elon musk, the owner of both companies, sold billions of dollars worth of his holdings from the electric vehicle company to finance his Twitter purchase. The largest retail shareholder of Tesla has called for the company to begin taking action to raise the price of the falling stock.
Tesla has been under significant fire lately. The electric vehicle company has recently had several recalls for multiple reasons. The company has overall been on a decline.
Some of the recalls that Tesla has issued may be contributing to the decline of the company. The recalls are pretty severe, and some have to do with basic safety features. It makes one wonder what exactly is going on with the company and why things are not being adequately managed.
Over the past few months, over two million Tesla vehicles have been affected by recall issues. Suppose you look back just another few months, the numbers for the total number of electric vehicles that have been part of recalls practically double. The recalls have absolutely gotten out of control and into dangerous territory.
The issues causing the Tesla recalls vary. Some of the recall issues involve shoddy software, rear lighting, seatbelts, the car’s window system not correctly working, the steering wheel, and other serious safety issues. The company has had around 20 recalls this year alone.
With so many major and potentially deadly issues surrounding many Tesla electric vehicles, it’s no wonder that the company is in a bad spot. Overall sales are down, and the vehicle price has also gone down. These are not good signs for the health of the electric vehicle company.
Tesla is also facing challenges with the production of its electric vehicles. The company is missing deadlines, and its product line is lacking. These factors are further adding to the decline of company stock.
Tesla’s owner has also been under major personal fire lately. Elon Musk recently took over the social media platform Twitter. Since his takeover, it has been a complete circus, to say the least.
Elon Musk is facing serious lawsuits surrounding his handling of the dismissal of the majority of people who were previously employees at Twitter. He has also tweeted a slew of controversial statements on a range of topics. These actions could also be contributing to the overall decline of Tesla.
If this wasn’t enough, the Tesla owner is also the owner of another company that is working to produce a chip that is to be implanted in human brains. The chip is currently in the stages of animal testing, with the chip being implanted into the brain of a monkey. Musk has announced that they soon plan to move forward with human trials.
Tesla’s decline may be a case of biting off more than you can chew. Elon Musk is also notoriously known for his lack of ability to accept constructive criticism. Maybe Musk should focus on one thing at a time.
