Tesla Inc (NASDAQ:TSLA) CEO Elon Musk has told the company’s employees to hold onto their stock following a 50% drop from its all-time high in December 2024.
Tesla is facing multiple challenges, including slowing sales in key markets, and criticism related to Musk's role in the Trump administration and the CEO’s focus on his other business ventures.
During a surprise all-hands meeting with employees on Thursday evening, Musk acknowledged the current difficulties facing the electric vehicle maker but emphasized that Tesla has a "bright and exciting future.”
"Tesla stock goes up and it goes down," Musk said. "But actually, it's still the same company. It's just people's perception of the future."
Musk said that while reading the news “feels like Armageddon,” the company's prospects remain strong, citing the potential of the company’s autonomous driving technology and the development of new products such as its robotaxi and Optimus humanoid robots.
Musk addressed the negative publicity surrounding Tesla, including reports of vehicle fires and vandalism at charging stations and dealerships.
“I understand if you don’t want to buy our product, but you don’t have to burn it down. That’s a bit unreasonable,” the CEO said.