Tesla falls 5% a day after a 15% rise - what happened?

4/30 (Tue) results are $183.28 (-5.55%) ⤵️

Last night, the economic index ECI, which the Fed also places importance on, was announced, and since the figure exceeded expectations, US bond yields rose. The market showed a negative reaction and declined. Also, since yesterday was the end of the month, position adjustments have also been made, which has accelerated the decline in stock prices.

Meanwhile, when it comes to Tesla, Elon's hardcore mode was activated, and executives in the charging infrastructure division and new product division were forced to resign because they showed an attitude of cutting down on human resources who couldn't keep up with cost reduction and the challenge of further heights.

Approximately 500 people have been fired from the supercharger division group, and it is reported that the public policy team led by Mr. Patel, who recently retired, will be disbanded.

It is said that Tesla is targeting a 10% reduction in personnel this time, so it seems that news of employee dismissal and retirement will still come out.

While Elon Musk has drawn a grand vision and is pushing forward to achieve lofty goals, he is currently making major efforts to solve the tough issues Tesla is currently facing, such as price pressure and declining sales.

As a manager, Elon is very good and cold-hearted. It seems really hard to work under him. As an investor, I have nothing but respect for his unwavering and consistent attitude.