Elon Musk, owner and director of Tesla electric car maker, has warned employees of his company that the stock could collapse if costs are not controlled in a way that guarantees quarterly profits The stock is trading at all-time highs ahead of joining the SP 500.
According to Arabiya Net, Musk said in an email to his employees. Investors trust our ability to make future profits, but at any stage if they realize that This is difficult to achieve, as our company's stock will collapse as if it were roasted food being crushed with a sledgehammer, according to what was reported by the US CNBC.
This year, Tesla began building new plants in Austin and Texas, as well as another in Berlin, Germany, as part of the company's plans to expand as demand for its products increased. In addition to the modernization of a number of other production lines at its main plant in California.
Also at the beginning of this year, and amid a slowdown in demand for electric cars, Tesla Corporation moved to reduce the number of its employees to reduce expenses, in addition to reducing the number of temporary workers and firing Large number of them to control spending.
Musk did not specify in his email plans to cut costs in the company's budget, but told investors that his company is trying to spend money to expand in the fastest and most feasible way possible without wasting money on the same Time.
The company plans to reduce its capital spending to about two billion dollars in the next two years compared to initial plans of about $ 2.5 billion, at a time when the company raised about $ 5 billion in September Past by offering additional shares in the money market.
Tesla's stock is hovering around the levels of $ 580 per share at the end of Tuesday's trading, as investors await the listing of the stock in the SP 500 index amid concerns among the index funds that follow the index from a wave Record selling on the stock may cause it to decline.
