Tesla and SpaceX chief Elon Musk is well known for his outspoken and sometimes bizarre tweets. He recently faced myriad controversies over his tweets regarding the coronavirus pandemic. His recent comments about Tesla shares resulted in a significant plunge in the stock value.
Elon Musk's tweet and Tesla stock
His recent tweet that Tesla's price is too high, followed by a 10 per cent drop in its stock value left his investors exacerbated.
Even though the stock prices of Tesla bounced back from $701 to $798 at the time of filing the report, many Tesla employees feel that he should go easy on his tweets to avoid any further damage to the company's image.
Tesla folks' opinion about Musk
Blind, the anonymous professional network with over 3.5 million verified users, asked 50+ Tesla employees two simple questions. The first was how they think Musk's Twitter activity is affecting Tesla. The second was about their opinion about Musk.
Regarding his Twitter activities, the Tesla employees were given a choice of -
- It is benefiting Tesla.
- It is not affecting Tesla
- It is harming Tesla
Regarding their opinion about Musk, they were given a choice of-
- A genius
- An Internet troll
- All of the above
- None of the above
The outcome of the Blind study was quite stunning. While 54 per cent of Tesla employees were of the opinion that Musk's Twitter activity is harming the company, 44 per cent believed he is both a misunderstood genius and an internet troll.
According to Blind, employees in tech companies understand the equilibrium between the company's stock price and their final paycheck. If the company's valuation is going up in the stock market, numbers are expected to increase in their paychecks and vice versa.
Blind mentioned that controversial media coverage on Musk's tweets is negatively impacting the company stock.
According to Blind, the memes and Twitter storm may sound funny from an outsider's perspective. But people connected to the company don't feel the same when they receive less money in exchange for their hard work.
Blind, known as a platform to discuss corporate controversies anonymously, has become quite popular after the alleged sexual harassment incident at Uber. The platform is quite popular among employees from large corporate entities like Google, Microsoft, Amazon, Facebook, Tesla and Uber.