Elon Musk Hits Back At Claims That He’s To Blame For Tesla’s Plunging Stock


Musk has consistently blamed the Fed for Tesla’s poor performance in 2022 when shares slumped 61% – putting the EV manufacturer on track for its worst year ever.

“We don’t control the Federal Reserve,” he said Monday. “That is the real problem here.”

But shareholders are worried that Twitter, which Musk acquired for $44 billion on October 27, has become a costly distraction for the Tesla and SpaceX chief.

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Tesla shares have plunged 38% since Musk finalized his takeover of the social-media company – with the tech-heavy Nasdaq index down just 2% over the same period.

Musk was responding to longtime Tesla bull Ross Gerber, who tweeted earlier on Tuesday that the company’s current share price “reflects the value of having no CEO“.