Many different factors could be the cause of Musk’s downfall. This article explains why Tesla’s share price is down and what Louis Vuitton CEO Bernard Arnault has brought to the table as a replacement.
How did this happen?
Elon Musk, founder and CEO of Tesla Motors, has had a tumultuous few months. His company’s share price has declined significantly, and he was recently ousted as chairman of the board of directors.
What caused this fall?
Several factors are at play: Tesla’s production delays on its Model 3 sedan, regulatory concerns over its Autopilot feature, and competition from other electric vehicles.
The Model 3 is Tesla’s most important product. It was supposed to be the car that would make the company profitable. But it has been delayed multiple times, with analysts estimating that it will not be available until late 2018 or 2019. This delay has caused investors to lose faith in Tesla’s ability to turn a profit.
Tesla also faces competition from other electric vehicles like the Nissan Leaf and the Chevrolet Bolt. These competitors are selling for much less than Tesla, making it difficult for them to make a profit. The increasing popularity of electric vehicles is also a challenge for Tesla; people are starting to realize that they’re not just environmentally friendly but also more affordable than cars with internal combustion engines.
What’s going to happen next?
Tesla’s share price declines, and CEO Elon Musk takes the top spot on the list of most shorted stocks. Tesla shares were down 3% in after-hours trading Monday, following a 7% drop on Friday. The company’s market capitalization dropped below $50 billion for the first time since November.
This is not the first time Musk has faced market scrutiny. In August, Tesla shares fell 8% after he tweeted that he was considering taking Tesla private at $420 per share. The SEC later said that this tweet constituted an offer to sell securities and that he had violated securities laws.
Tesla’s stock prices decline as its Model 3 deliveries fall short of expectations. In the third quarter, it delivered only 2,500 Model 3s despite starting car production in late 2017.
Who is the richest person in the world now?
The richest person in the world is now Elon Musk.
Tesla’s share price declined on Wednesday, making Musk the second-richest person in the world. He trails only Louis Vuitton CEO Bernard Arnault, with a net worth of $52.7 billion.
Musk has been working hard to build Tesla into a major player in the automotive industry. But some analysts say his ambitious plans may not be feasible. Tesla’s share price declined on Wednesday, making Musk the second-richest person in the world. He trails only Louis Vuitton CEO Bernard Arnault, with a net worth of $52.7 billion.
Musk has been working hard to build Tesla into a major player in the automotive industry. But some analysts say his ambitious plans may not be feasible. For one, Tesla faces competition from established automakers like Ford and General Motors. And even if Tesla succeeds, it may not make much money due to high production costs and low margins
There are always new and exciting developments in the business world to keep an eye on. This week was no exception, as we saw Tesla’s share price decline and Louis Vuitton CEO Bernard Arnault take the top spot on Forbes’ list of the richest people in the world. Here are some of the biggest stories from this week in business:
- Tesla’s share price declined after reports surfaced that United Auto Workers (UAW) members may go on strike over pay.
- Bernard Arnault took the top spot on Forbes’ list of the richest people in the world, with a net worth of $72.1 billion. Arnault is primarily responsible for LVMH – one of Tesla’s main competitors – growing into what it is today.
- Apple announced its newest product – an iPhone XR with a starting price of $999 – which caused Tesla’s stock prices to decline slightly.