NEWS
Elon Musk Told Tesla Workers to ‘Hang On.’ The Stock Rose Today .
Elon Musk Told Tesla Workers to ‘Hang On.’ The Stock Rose Today .
Tesla CEO Elon Musk told staff to “hang on to your stock” at an all-hands meeting Thursday night.
Musk at the all-hands argued it’s difficult for Wall Street to understand the value of Tesla’s growth potential with advances in technology.
Tesla (TSLA) shares surged Friday afternoon, rising a day after Elon Musk told his employees to “hang on.”
The shares, which added over 5% in Friday’s session, still fell for a ninth consecutive week. Tesla has had a rough few months, losing about half their value since hitting a record high in December while facing worries about declining sales, new tariffs, and a backlash to CEO Musk’s political activities.
On Thursday, at an all-hands meeting, Musk told staff to “hang on to your stock,” arguing it’s difficult for Wall Street to fully understand the value of its growth potential tied to advances in autonomous driving and the company’s work on its Optimus humanoid robot, which Musk has previously said could eventually come to represent a larger source of Tesla’s revenue than its vehicles.
“Tesla stock goes up and it goes down, but actually it’s still the same company,” Musk said. “It’s just people’s perception of the future.”
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