Elon Musk Says Tesla Always on his Mind, Not Distracted by Twitter Deal

Musk says in a tweet that he's spending less than 5 percent of his time on the Twitter acquisition.

Elon Musk Says Tesla Always on his Mind, Not Distracted by Twitter Deal

Photo Credit: Twitter/ @elonmusk

Meme showing a woman (Tesla) who is upset by her boyfriend (Elon) checking out another woman (Twitter)

Highlights
  • Tesla this year opened its new car factory in Texas
  • Tesla shares have lost one third of their value
  • SpaceX has a launch site known as Starbase in Boca Chica, Texas
Advertisement

Tesla CEO Elon Musk said on Thursday that "Tesla is on my mind 24/7," trying to soothe investor worries about him being distracted by a Twitter deal that has depressed stocks at the electric car company.

Posting a picture showing a woman (Tesla) who is upset by her boyfriend (Elon) checking out another woman (Twitter), he said, "So may seem like below, but not true."

"To be clear, I'm spending <5 percent (but actually) of my time on the Twitter acquisition. It ain't rocket science!" he tweeted.

"Yesterday was Giga Texas, today is Starbase. Tesla is on my mind 24/7."

Tesla this year opened its new car factory in Texas, and Musk's rocket company SpaceX has a launch site known as Starbase in Boca Chica, Texas.

Tesla shares have lost one third of their value since the billionaire disclosed his stake in Twitter in early April and sold $8.5 billion (roughly Rs. 65,900 crore) worth of Tesla stocks in a move seen to help finance his $44-billion (roughly Rs. 3,41,000 crore) Twitter deal.

Further hurting stocks are China lockdown measures that dampened Tesla's production and an exclusion of Tesla from a widely-followed S&P sustainability index.

Tesla bull Daniel Ives, an analyst at Wedbush, on Thursday cut the target share price of Tesla due to the China production disruption and warned of "distraction risks" from Musk's Twitter deal.

Leo KoGuan, a major individual investor in Tesla, on Thursday called on the electric carmaker to buy back shares.

"Tesla must announce immediately and buy back $5 billion (roughly Rs. 38,750 crore) of Tesla shares from its free cash flow this year and $10 billion (roughly Rs. 77,500 crore) from its free cash flow next year, without effecting its existing $18 billion (roughly Rs. 1,39,500 crore) cash reserves with ZERO debt," KoGuan said in a Twitter message to Tesla's head of investor relations, Martin Viecha.

Viecha was not immediately available for comment.

Last year, KoGuan, the third largest individual shareholder of Tesla, said he was investing billions in Tesla because he believes in Musk's "great mission that I share." He said in March that he was buying more Tesla shares, not selling during the stocks' dip.

© Thomson Reuters 2022


How is Alexa faring in India? We discuss this on Orbital, the Gadgets 360 podcast. Orbital is available on Spotify, Gaana, JioSaavn, Google Podcasts, Apple Podcasts, Amazon Music and wherever you get your podcasts.
Affiliate links may be automatically generated - see our ethics statement for details.
Comments

For the latest tech news and reviews, follow Gadgets 360 on X, Facebook, WhatsApp, Threads and Google News. For the latest videos on gadgets and tech, subscribe to our YouTube channel. If you want to know everything about top influencers, follow our in-house Who'sThat360 on Instagram and YouTube.

Further reading: Tesla, Elon Musk, Twitter
Moto G42 Renders Leak on Twitter, Tipped to Come With Triple Rear Cameras, Android 12
Samsung Galaxy F23 5G's New Colour and Innovative Features Makes It a Perfect Buy Under Rs. 15,000
Share on Facebook Gadgets360 Twitter Share Tweet Snapchat Share Reddit Comment google-newsGoogle News
 
 

Advertisement

Follow Us

Advertisement

© Copyright Red Pixels Ventures Limited 2024. All rights reserved.
Trending Products »
Latest Tech News »