US 21 march 2025 (Punjab Khabarnama Bureau): Elon Musk called for Tesla employees to “hang onto” their stock of the company despite the “rocky moments” the prices are going through.
Tesla stock plunged over 40 per cent this year, giving up the gains from an initial stock surge which followed President Donald Trump’s inauguration.
“If you read the news, it feels like Armageddon,” he said in an unannounced all-hands Thursday meeting in Austin, Texas, which was streamed live on his social media platform X.
“I can’t walk past a TV without seeing a Tesla on fire,” he added. “I understand if you don’t want to buy our product, but you don’t have to burn it down.”
This comes at a time when the US Federal Bureau of Investigation (FBI) has been investigating a number of incidents where Tesla charging stations and dealerships have been vandalized, including fires started in Las Vegas, Kansas City and Missouri, according to a Bloomberg report.
This came as a response to the growing backlash against Tesla CEO Musk’s role in the Trump administration.
Summary: Amid a 40% decline in Tesla’s stock, Elon Musk advises employees to retain their shares, expressing confidence in the company’s future.