00:00 Speaker A
Tesla and CEO Elon Musk looking to reassure employees at an all hands meeting asking Tesla employees to hang on to the stock despite its recent plunge. Take a listen.
00:11 Elon Musk
So, it’s, it’s very difficult for, like, you know, people in the stock market, especially those that look in the rearview mirror, um, which is most people, um, to imagine a future where suddenly, a 10 million vehicle fleet has five to ten times the, the usefulness. So, uh, what I’m saying is hang on to your stock.
00:58 Speaker A
Musk also reiterated his claim that Tesla will soon be capable of driving autonomously here, as we were taking a look at shares on the day fractionally pre-market, we were seeing some declines here. One of the huge things that insiders reporting as well, this was a surprise for a lot of employees. So an unexpected and impromptu town hall where Elon Musk took the stage. There were no seats. If they zoom out, you could see people just kind of like standing and clapping and cheering.
01:36 Speaker B
Well, uh, yesterday, if you recall, I believe it was Wednesday night, um, Dan Ives, our friend over at Wedbush came out with a note, and I think he’s the most influential Tesla analyst on the street right now, comes out with the note and basically says Elon needs to show his commitment to Tesla. He needs to show up and do a meeting like this. And then, you know, 24 hours later, Elon is standing there, holding an all hands meeting with everyone at Tesla. And I think part of the stock, you know, the stock story, which has been complicated over many years, has had many 50% drawdowns or more over the years. I don’t think long time Tesla bulls are too too concerned about the 50% drawdown we’ve seen. But um, the experience over the last three months has been unique in that Elon has had a lot of other things going on. Right. And there comes a point, and I think, you know, Ives is, is, you know, among some on the street, but again, I, in my view, the most influential, who said, okay, you need to come out and reassure investors, reassure your team that you are fully engaged with what’s happening at Tesla, not to say he hasn’t been, but he needs to publicly in a form like this, come out and do that. And, you know, sure, the stock is down a little bit this morning. We’re seeing selling pressure across the board, and does this make the stock double from here, get back to all time highs? I don’t know if it’s enough. I don’t know if one town hall is enough. But it’s the beginning of, I think, Elon very clearly reengaging or signaling that he has remained engaged with the process at Tesla. Again, something that investors have been calling for. Yeah.
04:03 Speaker A
Yeah. And, and not doing it in this case with a black on dark gray lettering MAGA hat. So in this instance, You know what? There’s nothing significant. You’re right. You’re right. I didn’t even think about that.
04:24 Speaker B
Right. Because
04:26 Speaker A
And many other forms, it’s just like, okay, I’m going full gung ho in that direction. One of the things that he also mentioned too for the investors out there, uh, Optimus. He talked about this potentially being the biggest product ever, thinks about the mission statement of the company, and it’s evolved to be a sustainable transition, uh, transportation and then sustainable energy company. And he says it’s going to evolve again, and we’ll see where that evolution goes.
05:01 Speaker B
Yeah, I’m very curious to see if this is merely the beginning of, of more of these kinds of appearances, and sort of what happens with the whole doge experiment sort of, you know, as a result.