(Finance) – The shares of Tesla I am collapsed on Wall Street after the CEO Elon Musk he said he had a “bad feeling” about the economy and highlighted the need for cut about 10% of the staff of the US multinational specialized in the production of electric cars. The email to employees seen by Reuters was sent Thursday and titled “Suspend all hiring worldwide.” In another email on Friday, Musk said Tesla will cut its payroll by 10%, as it has a “over-staffed in many areas“But” the hourly staff will increase, “he said.” Note, this does not apply to anyone who is actually building cars, battery packs or installing solar power, “Musk wrote.
Musk’s comments stunned even analysts following the company, especially as Tesla had not reported a slowdown in its business, had started two new vehicle assembly plants and reported record global sales volume in the last quarter. The CEO’s words are “a surprise to us given Tesla’s significant growth / expansion path ahead“Credit Suisse analyst Dan Levy wrote in a statement.
“If the world’s largest electric vehicle company warns about jobs and the economy, the investors should reconsider their forecasts for margins and profit growth“Morgan Stanley analyst Adam Jonas said, citing the Shanghai lockdown, rising battery raw material costs and other factors.
Downhill Tesla Motorswhich stands at 703, with a decrease of 9.29%. Expected for the rest of the session an extension of the bearish phase with support area seen at 688.8 and later at 674.6. Resistance at 730.3.