Tesla CEO Elon Musk Loses Massive $30B In Wealth As Stock Closes 15% Lower This Week On Earnings Miss, Weak Outlook
Portfolio Pulse from Anan Ashraf
Tesla Inc's shares dropped significantly this week, leading to a $30 billion decrease in CEO Elon Musk's net worth. The drop was due to a weak economic outlook from the company's recent earnings call and a miss on the third-quarter revenue estimates. Tesla's shares fell 15.2% this week to $211.99.
October 21, 2023 | 11:00 am
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Tesla's shares fell 15.2% this week due to a weak economic outlook and a miss on Q3 revenue estimates. This has negatively impacted the company's stock price.
The weak economic outlook presented by Elon Musk during the company's recent earnings call and the miss on Q3 revenue estimates have led to a significant drop in Tesla's stock price. This has resulted in a negative impact on the company's stock price in the short term.
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