Elon Musk tweeted out that “Tesla is on my mind 24/7” to help ease investor worries around the Twitter deal.
Evidently, some investors raised concerns that Musk was not focused on continuing to grow Tesla amidst his investments in Twitter.
To be clear, I’m spending <5% (but actually) of my time on the Twitter acquisition. It ain’t rocket science!
Yesterday was Giga Texas, today is Starbase. Tesla is on my mind 24/7.
So may seem like below, but not true. pic.twitter.com/CXfWiLD2f8
— Elon Musk (@elonmusk) May 19, 2022
Tesla is having an up and down start to 2022.
The company opened up Giga Texas and Giga Berlin. However, Giga Shanghai faced COVID shutdowns. Tesla shares have lost 1/3 of their value on the stock price side since Musk disclosed he was moving to buy Twitter.
The stock is also getting hit due to the COVID shutdowns in China, and a widely-followed S&P sustainability index excluded Tesla.
One of Tesla’s largest shareholders, KoGuan Leo, took to Twitter to demand the automaker make some moves in the market.
Tesla must announce immediately and buy back $5 billion of Tesla shares from its free cash flow this year and $10 billion from its free cash flow next year, without effecting its existing $18 billion cash reserves with ZERO debt.
KoGuan has deleted the Tweet, but has since tweeted this:
Even with $5B buy back this year and $10B next year, Tesla’s reserve will increase from $18B to $23B FY22 and $33B FY23. More cash than it can efficiently spend(Elon). $ is trash(Ray Dalio)
More demand than Tesla can produce cars but Its supply of shares more than its demand now
— KoGuan Leo (@KoguanLeo) May 20, 2022
At least to say, Tesla investors are feeling some discomfort, but considering the stock is still 20.9 per cent higher than last year, things are not too bad.