Tesla, Inc. TSLA stock pulled back on Friday amid rumors that Elon Musk might surrender the CEO position on the electrical car firm.
What Occurred: Musk rubbished the rumors and reiterated his dedication to Tesla. His feedback got here in response to a follower who tagged him and requested for affirmation to The Wall Avenue Journal that he is not stepping down from Tesla.
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For the unversed, the Journal carried a report that profiled Tesla CFO Zachary Kirkhorn, suggesting that he’s the one calling the pictures.
In reply, Musk mentioned, “Clearly, bringing on Linda permits me to commit extra time to Tesla, which is precisely what I shall be doing!”
Musk was referring to handing over the reins of Twitter to Linda Yaccarino, former NBCUniversal government. That is extensively anticipated to release the tech entrepreneur’s time in order that he can give attention to his different ventures, together with Tesla.
When the billionaire confirmed within the late afternoon on Thursday, Tesla inventory spiked increased. Friday’s premarket motion within the inventory additionally steered power. However because the WSJ report was quoted by different information websites and rumors unfold round Musk easing out of the Tesla CEO position, the inventory slid all through the morning session on Friday after which went a few consolidation transfer on the depressed degree within the afternoon.
Worth Motion: The inventory ended Friday’s session at $167.20, down 0.40%, in keeping with Benzinga Pro data.
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Tesla Traders, Chill out! Elon Musk Says He Isn’t Going Anywhere – Tesla (NASDAQ:TSLA) www.benzinga.com 2023-05-13 07:05:05
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