Elon Musk's announcement of a 10% reduction in Tesla's staff caused the stock to plummet from $171 to $156 TSLA 0.00%↑
Over the years, many investors have expressed dissatisfaction with Elon's decisions. Tesla operates in the cyclical automotive industry, which often experiences sell-offs and depressed stock prices.
Competition in the EV market is intensifying, with notable electric vehicles emerging from Porsche, BMW, and other major gas combustion manufacturers. Reports indicate the departure of two key Tesla executives, Drew Baglino and Rohan Patel.
While this isn't the end, witnessing some shakeup at Tesla could reassure investors about their investment and the stability of management. Perhaps Elon should consider reducing his Twitter activity and allocating more time to the manufacturing floor.