Tesla investors say Musk "abandoned" them after $700 billion drop

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Some of those investors are doubting his judgement and his dedication to the innovative electric car startup as the year comes to a conclusion.

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The stock of the automaker has lost more than $700 billion in value as a result of Musk selling large amounts of Tesla shares and investors questioning his concentration.

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Musk revealed in a regulatory filing on Wednesday that he had sold an extra 22 million Tesla shares for around $3.6 billion.

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Musk was hailed as a visionary businessman who could alter the world with his cutting-edge firms before he bought Twitter.

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Tesla, through the introduction of electric vehicles, and SpaceX, with its goal of sending humans into space.

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Musk saw Twitter as a way to achieve that goal, as he had been particularly critical of the social-media company's content moderation standards.

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Due to the high cost of Twitter, Musk has had to drastically cut costs at the social media network, laying off more than half of the company's employees.

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One of the biggest concerns among investors is that Musk is using Tesla as an ATM "Ives stated. "This has had a significant impact on Tesla's stock.

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The combination of a falling stock, a distracted CEO, and concerns about the Tesla brand tarnishing is fueling investor activism, according to Ives.

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Tesla investors say Musk "abandoned" them after $700 billion drop

LYRICSLIT.COM

Some of those investors are doubting his judgement and his dedication to the innovative electric car startup as the year comes to a conclusion.

LYRICSLIT.COM

The stock of the automaker has lost more than $700 billion in value as a result of Musk selling large amounts of Tesla shares and investors questioning his concentration.

LYRICSLIT.COM

Musk revealed in a regulatory filing on Wednesday that he had sold an extra 22 million Tesla shares for around $3.6 billion.

LYRICSLIT.COM

Musk was hailed as a visionary businessman who could alter the world with his cutting-edge firms before he bought Twitter.

LYRICSLIT.COM

Tesla, through the introduction of electric vehicles, and SpaceX, with its goal of sending humans into space.

LYRICSLIT.COM

Musk saw Twitter as a way to achieve that goal, as he had been particularly critical of the social-media company's content moderation standards.

LYRICSLIT.COM

Due to the high cost of Twitter, Musk has had to drastically cut costs at the social media network, laying off more than half of the company's employees.

LYRICSLIT.COM

One of the biggest concerns among investors is that Musk is using Tesla as an ATM "Ives stated. "This has had a significant impact on Tesla's stock.

LYRICSLIT.COM

The combination of a falling stock, a distracted CEO, and concerns about the Tesla brand tarnishing is fueling investor activism, according to Ives.

LYRICSLIT.COM