Elon Musk’s Spooking Comments Took Down The Share Price of Electronic Vehicle Industry
Around 6 month ago, Elon Musk told that he won’t attend the quarterly calls from his investors unless there’s some highly important thing to discuss. However, going beyond his announcement, last Wednesday Elon attended the call and explained the current challenges of Tesla that eventually frightened the investors.
As a result, the share price of Tesla fall down rapidly by 11% on Thursday and that affected the whole electric vehicle industry badly.
What Elon said? During the Quarterly Call Musk said how challenging it has become to continue manufacturing due to the disturbance in the supply chain. He also added that the crisis of microchips is still consistent making it difficult to complete the deliveries.
Though Elon admitted that the company has still growing rapidly with 50% growth in 2022. But despite of that the negative comment ruined the share price and gradually affected complete electronic vehicle market price.
Elon Musk had plans to launch Cyber Truck, the electric pickup within 2022. However, he thinks that due to the issue, the launch of this cybertruck can be postponed to 2023. While Rivian, the electric vehicle maker has already started manufacturing and selling their pickup, the investors of Tesla weren’t prepared to hear such negative comments from Musk. Now the share holders are afraid whether they should hold their stocks of should leave.