Elon Musk tells Tesla employees to hold on to their stock amid harsh selloff [View all]

Source: The Guardian

Elon Musk attempted to reassure Tesla employees of the automaker’s “bright and exciting” future at a company all-hands meeting on Thursday, urging them not to sell their stock even as the company’s valuation slides precipitously downward.

“There are times when there are rocky moments,” the billionaire CEO told his employees. “But what I’m here to tell you is that the future is incredibly bright and exciting, and we’re 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 executive’s role in Donald Trump’s administration. In the months since Trump named Musk the head of what he calls the “department of government efficiency” (Doge), the world’s 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 company’s 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

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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.