Tesla stock has fallen to its lowest point in two years. The electric carmaker has been in freefall on the stock market since CEO Elon Musk also took over Twitter in April.
A stock in Tesla was worth $407.36 in November 2021, at its highest point. In the meantime, 70 percent of that value has evaporated. The company seems to be struggling with logistical problems and the supply of parts, among other things.
The latter has been under pressure for a while due to covid measures in China (which were first widely released this week).
However, investors also say they are concerned about the focus of CEO Elon Musk himself. He seems to be mainly concerned with changes at Twitter, the social network he bought earlier this year. In early December, he sold billions of dollars worth of Tesla shares to finance that acquisition.
This led to a drop in market value at the car manufacturer. Musk, meanwhile, has promised not to dump Tesla shares in the near future.
