Some might argue that Musk’s big moves on Twitter in the short term could lead to Tesla’s valuation suffering in the long term, but he is far from fully divesting his EV company. In fact, as of last month, Musk was still the biggest individual Tesla shareholder thanks to the over 155 million shares he currently holds (via Capital.com). But of course, Musk’s risky Twitter gamble isn’t the only factor affecting Tesla’s stock valuation dip.
According to The Motley Fool via Nasdaq, China’s strict COVID-19 policies are currently affecting the productivity of Tesla’s Gigafactory in Shanghai as well, leading to lower EV volumes than the previous month. It’s also possible that Musk will be selling more Tesla shares to help bolster Twitter’s funding short-term now that he has taken the social media company private. The result of such a scenario would only make Tesla’s stock price drop even further, which, as it stands, is already the lowest it’s ever been in 18 months — a far cry compared to last year’s high of over $900 per share. This does present decent buying opportunities for long-term investors though, especially when taking into account Tesla’s solid track record over the years.
For all the latest Games News Click Here
For the latest news and updates, follow us on Google News.
