Tesla stock is now dipping after Elon Musk purchased Twitter. On the other hand, the value of the automaker's shares decreased by 9% during the defamation case between Johnny Depp and Amber Heard, in which the billionaire was involved in.
Tesla CEO Elon Musk uses his mobile device as he sits in the car arriving to the construction site for the new plant, the so-called "Giga Factory", of US electric carmaker Tesla in Gruenheide near Berlin, northeastern Germany. - The site still has only provisional construction permits, but Tesla has been authorised by local officials to begin work at its own risk.
With all these happenings, is Musk actually distracted? Aside from Tesla, other tech firms also experience a stock dip, such as Amazon, Google, Meta, and Apple.
But, unlike the giant EV maker, these tech companies' shares only decreased between 2% and 4%. Because Tesla seems to have the highest share decline, investors are now concerned.
Tesla Stock Decreases by 9%
According to CNBC's latest report, Tesla investors are now worried because Musk might be distracted by all the happenings around him.
Elon Musk pauses and looks down as he speaks during a press conference at SpaceX's Starbase facility near Boca Chica Village in South Texas on February 10, 2022. - Billionaire entrepreneur Elon Musk delivered an eagerly-awaited update on SpaceX's Starship, a prototype rocket the company is developing for crewed interplanetary exploration.
Also Read: Elon Musk Talks About Free Speech on Social Media, New Age of Twitter-What Will Happen?
Elon is now handling Tesla, SpaceX, as well as Twitter. Aside from these three tech companies, the billionaire also has two smaller firms (Neurlink and the Boring Company).
In 2021, the tech CEO announced that their automotive revenues were up by 87%. However, because of the Shanghai lockdown, they lost around $16.86 billion.
"Production is resuming at limited levels, and we're working to get back to full production as quickly as possible," said Tesla's Chief Financial Officer Zach Kirkhorn.
Musk's Involvement in Depp Vs Heard Defamation Case
For the past few years, rumors claimed that Musk had an affair with Amber Heard, the ex-wife of Johnny Depp. Because of this, people are expecting him to attend the trials between the two Hollywood actors.
However, The Daily Mail UK reported that Elon decided to be a no-show in the hearings. Although this is the case, his name was still mentioned in the court.
Some documents that were provided during one of the hearings of the defamation case claimed that the billionaire visited Amber, together with Cara Delevingne in the apartment owned by Depp and his ex-wife in Los Angeles.
However, the CEO declined this claim. If you want to see more details about the involvement of Musk with Amber Heard and Johnny Depp case, you can visit this link.
Meanwhile, Elon Musk's Neuralik recently offered job opportunities for smartwatch employees.
On the other hand, Twitter founder Jack Dorsey said that he trusts the billionaire to handle Twitter.
For more news updates about Elon Musk and other tech happenings related to him, always keep your tabs open here at TechTimes.
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Written by: Griffin Davis
