Key Takeaways:
- Tesla’s share price has dropped sharply in recent weeks.
- Insiders, including Elon Musk’s brother and board members, have sold over $100 million in shares since February.
- Protests are targeting Tesla dealerships nationwide due to Musk’s controversial actions.
- The company’s market value has lost hundreds of billions of dollars.
Insiders Cash Out as Tesla’s Value Drops
Tesla’s stock has taken a nosedive recently, and insiders are jumping ship. Since February, top executives and board members have sold over $100 million in shares. This wave of selling comes as the company’s value has plummeted by hundreds of billions of dollars.
One of the biggest sellers is James Murdoch, a longtime ally of Elon Musk and a Tesla board member since 2017. Murdoch sold shares worth around $13 million on March 10, the same day Tesla’s stock fell by the largest single-day drop in five years.
Musk’s own brother, Kimbal Musk, who is also on Tesla’s board, sold 75,000 shares last month, worth about $27 million. Meanwhile, Robyn Denholm, the chairman of the board, has sold over $75 million in shares in just a few weeks.
Shareholders Feel the Pain
As insiders sell, regular shareholders are left wondering what’s next. Tesla’s falling stock price has wiped out billions of dollars in value for investors. Many are worried that the company’s leadership and controversies are driving the losses.
Protests Hit Tesla Dealerships
The backlash against Tesla isn’t just happening in the stock market. Across the country, activists are protesting at Tesla dealerships. They’re angry because of Elon Musk’s recent actions, particularly his push to cut federal jobs. Protesters are trying to hurt Tesla’s business by organizing boycotts anddemonstrations.
Musk’s Controversial Moves
Elon Musk has been in the headlines for more than just Tesla’s struggles. His efforts to slash the federal workforce have sparked outrage. Critics say his actions are reckless and hurt innocent workers. This backlash is adding to the pressure on Tesla’s stock price.
What’s Next for Tesla?
The future of Tesla is uncertain. While the company remains a leader in electric cars, the ongoing controversies and insider selling have investors nervous. If Musk can’t stabilize the company and calm critics, the stock may continue to fall.
For now, Tesla’s troubles show how quickly things can change in the high-stakes world of business and investing. Stay tuned to see how this story unfolds.