Elon Musk tells Tesla employees to hold on to their stock amid harsh selloff
Source: The Guardian
Elon Musk attempted to reassure Tesla employees of the automakers bright and exciting future at a company all-hands meeting on Thursday, urging them not to sell their stock even as the companys valuation slides precipitously downward.
There are times when there are rocky moments, the billionaire CEO told his employees. But what Im here to tell you is that the future is incredibly bright and exciting, and were going to do things that no one has even dreamed of.
During the meeting, which was broadcast on X, Musk urged employees to hang on to their stock in the face of a 50% drop in share prices. Tesla has borne the brunt of the backlash against the tech executives role in Donald Trumps administration. In the months since Trump named Musk the head of what he calls the department of government efficiency (Doge), the worlds richest person has dismantled entire federal agencies, canceled contracts across bureaus that had any mention of diversity, equity and inclusion, and made a gesture at a rally that his estranged daughter called definitely a nazi salute in an interview this week.
In response, Tesla owners are attempting to sell their vehicles; the companys stock price has plummeted and Teslas around the country have been vandalized some even set on fire with Molotov cocktails. The Vancouver International Auto show announced earlier in the week it had removed the company from the lineup for its upcoming showcase over security concerns as the protests against Musk spread.
Read more: https://www.theguardian.com/technology/2025/mar/21/elon-musk-tesla-stock
This reminds me of when a former employer, after being bought out by a vulture capital firm, was pushing employees to get into the company stock purchase plan....... not long before declaring bankruptcy. I'd been participating in the employee stock plan for several years and wound up losing over $10,000 in that bankruptcy.
hlthe2b
(112,627 posts)a really bad message? 'Seems to me that would convince me to sell while I still could--or at least that which I could not afford to lose.
SheltieLover
(76,139 posts)hlthe2b
(112,627 posts)246.77 USD +10.51 (4.45%)
today
Demobrat
(10,257 posts)The big funds are selling and the little guys are buying.
Xolodno
(7,291 posts)...Tesla is looking ripe for the taking. If execs are dropping their shares, that's usually not a good sign.
Demobrat
(10,257 posts)It talked about this. Maybe the commerce secretary going on Fox a few days ago and telling the MAGAts to buy the stock worked. Theyre just that gullible.
CanonRay
(15,913 posts)it's 10 times overvalued, but yeah you suckerd hold yours.
Think. Again.
(22,456 posts)BattleRow
(2,087 posts)House of Roberts
(6,374 posts)Employees weren't allowed to sell, while the big investors got out early.
erronis
(22,487 posts)Comfortably_Numb
(4,188 posts)Enron CEO Kenneth Lay and other executives, including Jeffrey Skilling, sold significant amounts of Enron stock before the company's collapse, while also urging employees to buy shares, raising questions about insider knowledge and potential manipulation.
Blue Full Moon
(3,111 posts)poozwah
(390 posts)enron musk?
House of Roberts
(6,374 posts)Might catch on, with Starlink fading, Tesla losing sales, and SpaceX not exactly doing so great themselves.
sop
(17,288 posts)SheltieLover
(76,139 posts)BlueSpot
(1,244 posts)JohnSJ
(98,883 posts)environmentally conscious progressives which musk has actively disparaged
My only question is:
Would you buy a used car from him?
SheltieLover
(76,139 posts)JohnSJ
(98,883 posts)SheltieLover
(76,139 posts)GusBob
(8,111 posts)The Big Short
erronis
(22,487 posts)rampartd
(3,581 posts)as he dumped his own golden parachute.
BattleRow
(2,087 posts)Enron..first thing that came toy mind!
I always called it endrun...
Baitball Blogger
(51,636 posts)YorkRd
(430 posts)Think. Again.
(22,456 posts)dickthegrouch
(4,258 posts)Asking for a fiend.
SheltieLover
(76,139 posts)SunSeeker
(57,441 posts)When people are afraid of losing their money they want out.
sinkingfeeling
(57,064 posts)flvegan
(65,682 posts)As Owners Turn Their Backs On The Brand
Read More: https://www.jalopnik.com/1815968/tesla-trade-ins-owner-turn-backs-on-brand/
"Tesla cars from model year 2017 or newer accounted for 1.4% of all the vehicles traded in until March 15, up from 0.4% in March last year, according to data provided to Reuters by Edmunds. Analysts at the national car shopping website said that share could grow through the second half of the month.
Read More: https://www.jalopnik.com/1815968/tesla-trade-ins-owner-turn-backs-on-brand/"
LOL, though I am sorry for those that bought a Tesla with good intent, prior to realizing Elon was such a shit human.
Demobrat
(10,257 posts)People will hold on until the lease is up and then move on to something else.
flvegan
(65,682 posts)when turned back to the dealer (Tesla) it will count as a trade-in.
GiqueCee
(3,311 posts)... who is incapable of admitting a mistake; he'll just keep digging his own grave deeper, until someone he fucked over actually puts him in it. The sooner the better.
pfitz59
(12,265 posts)It's down quite a bit. Part of his retirement portfolio. He's tempted to sell before losing it all. He's not sure what to do. He hates Musk.
AZ8theist
(7,055 posts)I will NEVER buy that crap again under any circumstances.
But thanks, Eloon. I made a boatload of money off of you. Before you showed the world that you're a FUCKING Nazi.
stoned
(334 posts)I'm sure that will make me no friends here, but I keep emotion out of my market decisions.
questionseverything
(11,525 posts)And hurts him, win-win
stoned
(334 posts)I'll be keeping it for the next 30 years, and buying more when it dips. I do zero "day trading" and 100% of my investments are medium- and long-term.
IronLionZion
(50,729 posts)LetMyPeopleVote
(174,319 posts)Tesla is overvalued and these employees should sell
Link to tweet

This same trick was used by Enron management before Eron went under
Link to tweet
Link to tweet
Yavin4
(37,182 posts)Meanwhile, the executives are heading for the lifeboats. Shades of Enron.
Dave Bowman
(6,535 posts)Mblaze
(917 posts)are two times better at half the cost. Tesla is being propped up by tariffs and American reluctance to import Chinese cars.
Sky Jewels
(9,148 posts)like, ever. His name is poison worldwide and with the type of Americans who are most likely to buy an EV. They have other, better, cheaper option than his cars, especially the hideous held-together-by-Elmers-Glue Nazimobiles. They won't be able to stop the anti-Tesla vandalism, and who is dumb enough to buy a car that you have to worry about getting keyed, spray painted, or torched every time you park it outside your own garage?
mdbl
(8,020 posts)tulipsandroses
(8,116 posts)I don't know how long it will take, but my prediction is that eventually Tesla will be like Blockbuster and Phone booths. A thing of the past.
Sky Jewels
(9,148 posts)From your mouth to Mother Natures ears!
Martin68
(26,942 posts)Ford_Prefect
(8,501 posts)joanbarnes
(2,070 posts)slightlv
(7,396 posts)Jeez... he even *sounds* like trump now! Always to the most extreme verbage.
Dem2theMax
(11,005 posts)bucolic_frolic
(53,801 posts)Recommending this or that could be seen as having inside information. If we had any SEC enforcement left.
RockRaven
(18,624 posts)So as top execs cash out, the peons should hold. Right. As always, do as we say not as we do.
marble falls
(70,480 posts)... and look into the Rivian, a dependable, real electric vehicle.

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