Despite its records, why Tesla is under attack from all sides

2022 was somewhat of an Elon Musk year. But If he made headlines for the $44 billion takeover of Twitter at the end of October, the success of SpaceX’s space launch vehicles, and Tesla’s sales boom, the brilliant and temperamental boss has suffered plenty of disappointments. Thus, Tesla lost two-thirds of its market value in 2022, falling prey to concerns about demand for electric vehicles, the end of easy money on Wall Street, as well as adversity due to the social network’s uncertain outcome.

On the one hand, the multibillionaire sold several billion dollars worth of Tesla shares to finance the acquisition and later operating expenses of his new toy, selling another $3.6 billion in early December. And this despite the fact that in the spring he said that he was not going to sell anymore. Elon Musk also threw the social network into disarray by firing half of its employees. All of a sudden, “Musk lost all credibility from the investment community,” said Dan Ives, an analyst at Wedbush Securities. It has become “impossible” to rate Tesla without taking into account the erratic management of Twitter, surpassing Oppenheimer’s Colin Rush.

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