Allegations of sexual harassment against Elon Musk, a series of corporate scandals and seemingly flawed pursuits on Twitter put Tesla's shares in excess of half a billion dollars in January.
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Tesla (TSLA) - Shares reached the new lowest Friday of 2022 as CEO Elon Musk promised that the power of a clean car manufacturer was on his mind '24/7 'as bad news headlines continued to plague the richest man in the world.
Musk said he spends about 5% of his time on Twitter taking $ 44 billion, and noted that his main focus was SpaceX and Tesla's commitments as he sought to alleviate investors' concerns that he had been severely disrupted.
Musk also dismissed reports, which surfaced last night, of sexually abusing a private flight attendant in 2016 as "absolutely untrue", saying it was "a politically motivated episode" and added "much more to this." story. "
Regardless of its merits, the headlines themselves have reminded investors that Tesla, who has lost more than $ 450 million since Musk began claiming Twitter earlier last month, is still firmly in line with the actions of his most visible CEO.
Musk has promised up to $ 62.5 billion in Tesla shares to secure various levels of funding with his 'best and ultimate' $ 54.20 blogging website, but last week said the deal was "suspended" between inquiries. linked to the group accounting for spam accounts suspended the agreement ", although he said he was still willing to buy.
Tesla shares have dropped by almost 37 percent since Musk made 9.1% of his share on Twitter publicly on April 4 as investors accounted for both of Musk's loans, Tesla's nearly $ 9 billion share sale and billionaire leadership portfolio, which includes. space exploration teamXXX, Boring Company construction company and neurotechnology specialist Neuralink Corp.
Tesla shares marked a 6% lower start on trading on Friday to change hands at $ 667.00 each. Stocks arrived in 2022 down new $ 665.24 each at the beginning of the session.
Cathie Wood ARK Investment Group, which owns the Ark Innovation ETF (ARKK) - Re-evaluate its technology-focused portfolio to reduce its reliance on Tesla shares, now comprising 8.2% of the fund , compared to 8.4% taken by Roku ROKU's new favorite.
Tesla, seeing its market value drop by more than $ 525 billion so far this year, has re-entered the air-conditioned homes due to rising installation costs, global shortage of semiconductors, supply supply disruptions and 'zero' China's ongoing Covid '. Cracks blocked production at its Shanghai key factory.
Data earlier this month from the China Passenger Car Association showed that Tesla produced only 10,757 cars in the world's largest market last month, sold more than 1,500 XNUMX and did not export, due to the 22-day closure of its Shanghai facility at the time. Covid city closure.
April figures are the lowest for 2 years and compare with a total sales of 65,814 in March. Overall car sales in China dropped by 35.7% from April last year, the CPCA said, the biggest drop in one month since the outbreak began in March 2020.
The clean car manufacturer also looks at the multi-million dollar corruption charge linked to its $ 1.5 billion investment in bitcoin, which he bought last year under Musk's direction and his view that cryptocurrency "is very close to widespread acceptance." By general investors and the wider business community.
Tesla's cost of carrying bitcoin will vary, but the purchase time raises an estimated value of $ 32,600. That number, of course, increased in the last half of 2021, when bitcoin reached nearly $ 67,000, but now looks very weak after crashing below the $ 25 level late last week.
"Digital assets are regarded as intangible assets that last longer under applicable accounting rules," Tesla warned investors in filing a Securities and Exchange Commission corresponding to its first quarter profit last month. "Therefore, any decrease in their fair value under our carrying amounts of such assets at any time after their acquisition will require us to be aware of impairment charges, while we will not make any incremental updates of any market price up until sale."
Bitcoin prices last appeared to trade 6.5% higher per session at $ 30,834.60 each, a move that leaves the world's largest cryptocurrency down by 32.3% quarterly.
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