Tesla’s stock price took a hit at first, but it’s now showing some signs of recovery thanks to other factors at play. What will the likely impact of this controversy be, and how could it impact the future outlook for the Tesla stock?
As anyone could have predicted based on the track record of Musk’s tweets, the poll sent stockholders into panic, resulting in a dip in the Tesla stock price. Musk did indeed decide to sell many of his shares, which decreased prices further.
Considering that Tesla has found popularity among a progressive demographic who want to believe they’re investing in something that will positively impact the world, these (arguably) morally questionable accusations could harm its brand and curb its growth potential.