Elon Musk Cuts Deep Into Tesla's Supercharger Team As Stock Tumbles 29% For The Year
Portfolio Pulse from Zaheer Anwari
Elon Musk has terminated most of Tesla's Supercharger team following a conflict with a senior executive. Despite the layoffs, Tesla plans to invest over $500 million to expand the Supercharger network. Tesla's stock has dropped 29% this year and is struggling to surpass the $200 mark, crucial for potential recovery.
May 17, 2024 | 1:03 pm
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Elon Musk has terminated most of Tesla's Supercharger team following a conflict with a senior executive. Despite the layoffs, Tesla plans to invest over $500 million to expand the Supercharger network. Tesla's stock has dropped 29% this year and is struggling to surpass the $200 mark, crucial for potential recovery.
The termination of most of the Supercharger team could lead to operational disruptions and affect investor confidence. Although Tesla plans to invest $500 million in expanding the network, the layoffs have caused frustration among contractors and municipal governments. The stock's struggle to surpass the $200 mark adds to the uncertainty, making a short-term negative impact likely.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100