Tesla’s CEO sent out a 132-word email to the entire company. In the short, concise note, Elon Musk hit on several points that have and continue to dominate news and business headlines. Tesla is in uncharted waters. For a stock that seemingly has only gone up for years, its share price has eroded by 70 percent in 2022, more than 40 percent in December alone. With just days left in the fourth quarter, Tesla faces another significant challenge.
It would not be the end of a quarter without Musk requesting that all hands be on deck as the company tries to get out every vehicle possible. Tesla set a new record for deliveries by quarter just a few months ago when it reported more than 340,000 units were sold in the third quarter. Wall Street analysts are demanding a significant increase in deliveries. Some expect to see more than 440,000 for the fourth quarter.
In the all-company email, Musk states: Since we have a lot of cars arriving at the last minute, it is important to rally hard and do everything we can to get our cars to customers who have ordered them before midnight on Dec. 31. Also, every incremental car we produce that can be delivered in time also matters. Please go all out for the next few days and volunteer to help deliver if at all possible. It will make a real difference!
It really could make a difference in the stock price. If Tesla misses the target, the already beat-up stock value could plummet further. Remember, Tesla employees were offered stock as part of the compensation package. So many of the people who read that email have also been watching their portfolio take a considerable hit in the past month, including Musk himself, who lost the title of the world’s richest person.
But, Musk addressed the market news as well. He wrote: Btw, don’t be too bothered by stock market craziness. As we demonstrate continued excellent performance, the market will recognize that. Long-term, I believe very much that Tesla will be the most valuable company on Earth!
Musk did start the email by congratulating everyone for their hard work and “exceptional execution” before getting down to business. Indeed, the final days of 2022 will be telling for Tesla.
The complete email as obtained by CNBC is below:
From: Elon Musk
To: Everybody
Subj. Final Few Days
Date: Dec. 28, 2022 [Time Stamp removed]
Just a quick note to thank you for your hard work and congratulate you on exceptional execution in 2022!
Since we have a lot of cars arriving at the last minute, it is important to rally hard and do everything we can to get our cars to customers who have ordered them before midnight on Dec. 31. Also, every incremental car we produce that can be delivered in time also matters.
Please go all out for the next few days and volunteer to help deliver if at all possible. It will make a real difference!
Thanks,
Elon
Btw, don’t be too bothered by stock market craziness. As we demonstrate continued excellent performance, the market will recognize that. Long-term, I believe very much that Tesla will be the most valuable company on Earth!
