Elon Musk Is Making Headlines -- Here's How Investors Can Take Advantage
After experiencing a massive bull run from early 2020 through Dec. 2021, shares of electric vehicle (EV) giant Tesla (NASDAQ: TSLA) have hit a roadblock. The stock returned more than 1,000% to shareholders who stayed with the company from Jan. 1, 2020 through the end of last year. Shares of the EV leader have been moving in reverse since the start of 2022, however, down 30% year to date versus the S&P 500, which has dropped just 13% in the same time frame.
So what exactly is causing the stock to collapse? While COVID-19-related shutdowns at its Shanghai factory, global supply chain restraints, and an overall gloomy economic environment certainly haven't helped its case, CEO Elon Musk has clouded investor confidence in his EV business. The world-renowned entrepreneur has been grabbing more headlines than usual, starting with his dramatic potential takeover of social media giant Twitter. More recently, he made news after telling executives at Tesla to "pause all hiring worldwide" as he wanted to slash 10% of the company's salaried workforce.
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Source Fool.com
