2022 has been a tough year for Tesla stocks. With an all-time high of shares in November of 2021, the EV company’s year of 2022 ended with a 65% drop (more than $700 billion). It concluded the year with a stock-market value of $389 billion, which is more than the values of Toyota Motors, Ford Motors, General Motors, and Stellantis combined.
Regardless of Musk’s distraction of taking over Twitter, there have been cost reductions, ever-growing competition, and the risk of recession when it comes to Tesla. As the news disclosed, there was a rising concern among Tesla investors fearing its high demand due to the discounts offered to its consumers to take deliveries before the year-end.
Last Friday, during the last trading of the year, Musk tweeted- “Long-term fundamentals are extremely strong. Short-term market madness is unpredictable.”
According to the Bernstein Research Data, the wait time for certain Tesla models were as high as 30 weeks and has now taken a drastic drop.
Must told employees to “not be too bothered by stock market craziness. As we demonstrated continued excellent performance, the market will recognize that”, in a recent message.