Despite its records, why Tesla is under attack from all sides

Despite its records, why Tesla is under attack from all sides

2022 was, in a way, the year of Elon Musk. But if he made the headlines for his takeover of Twitter for 44 billion dollars at the end of October, the success of SpaceX’s astronautical launchers and the boom in sales of Tesla, the brilliant and temperamental boss suffered many disappointments. Tesla thus lost two-thirds of its stock market value in 2022, victim of fears over the demand for electric cars, the end of easy money on Wall Street, but also tribulations at the uncertain outcome of the social network.

On the one hand, the multi-billionaire sold several billion dollars of Tesla shares to finance the acquisition and then the operating costs of his new toy, selling another 3.6 billion in early December. And this, while he had said in the spring that he had no intention of selling more. Elon Musk also took the social network into the turmoil, laying off half of its employees. Suddenly, “Musk has lost all credibility with the investment community,” said Dan Ives, analyst at Wedbush Securities. It has become “untenable” to evaluate Tesla without taking into account the erratic management of Twitter, outbids Colin Rusch, of Oppenheimer.

.