Tesla Shares Slide After Musk Twitter Meltdown, Rising Demand And Liquidation Worries

Are the wheels, so to speak, finally coming off the Tesla investment case?

After a dramatic Sunday, in which Elon Musk unleashed a bitter tirade at the Thai rescue chief Vern Unsworth, calling him a pedophile more than once in now deleted tweets…

… after his rescue effort was criticized, Tesla stock is down 3% in early trading as investors show growing concerns at Musk’s increasingly erratic public behavior.

Musk’s latest outburst followed a warning last week from one of Tesla’s top investors who urged the company to keep its head down and focus on performance: “We are very supportive, but we would like peace and execution at this stage,” said James Anderson, partner and portfolio manager at Baillie Gifford & Co., Tesla’s fourth-largest shareholder, said on July 11 in a Bloomberg Television interview.

Adding to investor worries are unconfirmed reports that the Tesla’s Model 3 configuration page is down.

Musk also sparked outrage on Saturday after it was revealed that he was a prominent donor to a GOP PAC whose purpose is to keep the Republicans in power and which resulted in a furious backlash from liberals, many vowing to cancel their car orders or even return cars they currently have.

Another final concern is a weekend report that T Rowe Price, currently the second largest holder of TSLA, has significantly trimmed its holdings of the stock.

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Author: Tyler Durden

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