Musk urges Tesla employees to keep their stocks

Tesla is facing financial troubles, with its stock value dropping significantly. Recent issues include disappointing sales, numerous recalls, and protests against CEO Elon Musk. In response, Musk is urging Tesla employees to keep their stocks, despite major executives recently selling theirs. He reassured staff, saying, “The future is bright and exciting,” during a company-wide meeting. Tesla has traditionally rewarded salaried employees with stock as part of their compensation. However, this practice paused in 2023 due to a challenging economic situation, coinciding with a 6% stock decline. The company's recent stock drop of 50% has increased concerns about its future and competitiveness. Musk has previously used stock awards to prevent unionization at Tesla, maintaining a workforce without union representation. As stock values fall, employees may feel less tied to Musk’s leadership and could start seeking better conditions. Calls for Musk to step down as Tesla's CEO are growing. Investor Ross Gerber stated that Tesla has been neglected, suggesting that Musk should either focus solely on Tesla or appoint a new leader to help steer the company through these challenges.