Friday, May 17, 2024
HomeTechInvestors in Tesla tell Elon Musk to stop wasting time on Twitter...

Investors in Tesla tell Elon Musk to stop wasting time on Twitter because his erratic tweets cause them to sell shares.

Bloomberg reported that Elon Musk’s controversial tweets about politics and memes have prompted some Tesla investors to sell their shares.

The world’s richest person, who temporarily lost the title this week, tweets late at night frequently. Wednesday at 2:30 a.m. PT, he posted a clip from David Lynch’s 1984 film “Dune” in an apparent reference to his ownership of multiple businesses.

Thursday at 1:44 a.m., he tweeted “Woke v Woke” about The New York Times’ union walkout.

And then there are the confusing memes, such as “Pepe the Frog” trolling, a meme that has become a symbol for the alt-right.

This has become too much for investors such as Trevor Goodwin, who held Tesla stock for five years before losing faith in Musk due to his tweets.

According to Bloomberg, a business analyst from Kansas City, Missouri, recently sold $30,000 worth of Tesla shares.

Goodwin and his wife both own Tesla vehicles and have previously praised the company to their friends. He now claims Musk’s erratic behavior is intolerable, and he only retained a few Tesla shares.

Goodwin told Bloomberg, “It’s almost as if he’s abandoned us in favor of his new mission.”

Despite Tesla’s share price falling 56% this year to close at $174 on Wednesday, the stock has increased by more than 700% since trading at $22 on December 8, 2017 — a period of five years.

Since 2015, Earl Banning, a psychologist from Anchorage, Alaska, has been a Tesla enthusiast and investor.

He told Bloomberg that he has defended Musk online, as have many of the billionaire’s acolytes, but that the most recent incident has “lost a lot of us.”

Banning has no intention of selling his shares, but he wishes Musk would be less politically and provocatively charged.

“It was completely unnecessary,” he told the media outlet. “You have a fantastic automobile company; please stop.”

Other investors, such as lawyer Jonathan Batchelor of Phoenix, Arizona, are more concerned with Tesla’s actual leadership.

Musk claims he is sleeping at Twitter’s headquarters to get more work done, but San Francisco building inspectors are investigating him for converting offices into bedrooms.

Batchelor desires reassurances while Musk works elsewhere, but he told Bloomberg that it would be advantageous if the Chief Idiot “learned lessons in dealing with that organization as opposed to making mistakes with Tesla.”

Twitter and Tesla did not respond immediately to Insider’s requests for comment.