Tesla Stocks Gained Amidst Musk's Twitter Involvement
Tesla's shares, which increased by 40% this year, experienced a 2% rise in pre-market trading on Friday. The stock suffered its worst year in 2022, losing 65% value during Musk's intermittent involvement with Twitter.
Concerns Over Musk's Commitment to Tesla Eased
Tesla investors have expressed concern that Musk's acquisition of Twitter for $44 billion may divert his attention from Tesla, which is currently engaged in a price war with emerging and established automakers.
Tesla Shareholders See Fractional Positive in Twitter CEO Appointment
Gene Munster, Managing Partner at Deepwater Asset Management, commented that appointing a new Twitter CEO is a minor positive for Tesla shareholders. It is expected that Musk will now dedicate more time to Tesla, despite having other ventures competing for his attention.
Linda Yaccarino in Talks for Twitter CEO Role
On Thursday, Musk announced that he had found a new CEO for Twitter without revealing their identity. The Wall Street Journal reported that NBCUniversal executive Linda Yaccarino is in discussions for the position.
Musk to Assume CTO Position at Twitter
Musk also stated that he would assume the role of chief technology officer at Twitter. Hargreaves Lansdown analyst Sophie Lund-Yates said that Tesla investors would welcome this change, as concerns were raised over Musk's hands-on approach with Twitter.
Musk Juggles Multiple Ventures, Including SpaceX and Neuralink
In addition to Twitter, Musk actively manages other businesses like SpaceX, Neuralink, and his newly-formed AI company, TruthGPT, which aims to compete with OpenAI's ChatGPT and Alphabet (NASDAQ: GOOGL) Inc's Bard.
Musk's Chaotic Tenure at Twitter
Musk's tenure at Twitter has been tumultuous, involving job cuts, executive team dismissals, and significant policy and stra