Elon Musk, CEO of Tesla, speaks to media representatives at the Tesla Gigafactory construction site In Grünheide near Berlin, September 3, 2020.CEO Elon Musk sent an e-mail to employees on Tuesday warning them that they need to control their spending in order to continue squeaking out quarterly profits, even though shares of Tesla are trading at all-time highs ahead of the company's inclusion in the S&P 500.
"Investors are giving us a lot of credit for future profitability but if, at any point, they conclude that's not going to happen, our stock will immediately get crushed like a souffle under a sledgehammer!" Musk wrote in the email, which was obtained by CNBC.
On the company's third-quarter earnings call, Musk told analysts and shareholders, "We're trying to spend money at the fastest rate that we can possibly spend it and not waste it." Tesla raised $5 billion in September through an equity raise but needs to pay down about $1 billion in this, its fourth, quarter related to converts.Here's the full e-mail from Musk shared with employees, as transcribed by CNBC:At a time like this, when our stock is reaching new heights, it may seem as though spending carefully is not as important. This is definitely not true!
Said every billionaire to the working man.
In alternative reality, it means let's reduce quality to compete with Hyundai that is beating us.
So Musk will be taking a pay cut Corporate spending cut in half? Asking for a friend...
If there is a negative angle, lora's got it covered. Positive items, not so much. In other Tesla News: -Shanghai GF launching model Y -4680 battery production launching -record car sales by Tesla
The Tuesday e-mail echoes previous statements by Musk **but does not specify how Tesla plans to mind its budget.**
It´s called a bubble. Not soufflé
Share this Please],From Sen.Brown D-Ohio tell the World what the GOP nd stevenmnuchin1 Stands For and thats not you the Little Guy American has Fallen Under the Foot of GOP
Leave it to elonmusk to explain how stocks gets crush
nice
A true genius...
Fuck Elon Musk.
Unless you give your employees stock options, I doubt they care
Musk looks like a sweaty egg in this photo this boy shinning bright
it´s gonna happen regardless, but ok.
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