In a surprise all-hands meeting on Thursday night, Tesla CEO Elon Musk urged employees to “hang on to your stock” despite the company’s shares losing roughly half their value since December.
Business Insider reports that Tesla CEO Elon Musk held an impromptu all-hands meeting with employees on Thursday night at the company’s Texas Gigafactory, where he addressed concerns about the recent stock slump and outlined ambitious plans for the future. The meeting, which was livestreamed on X, came as a surprise to many, as it was scheduled on short notice and held outside of regular work hours.
During the hourlong session, Musk spent the first half providing updates on Tesla’s safety record, delivery figures, and progress in autonomous driving and robotics. He then opened the floor to employee questions for the remainder of the meeting.
One of the key takeaways from the gathering was Musk’s message to employees regarding the company’s stock price. Tesla shares have fallen by more than 50 percent from their record highs in mid-December, closing at around $236 on Thursday. Musk acknowledged the challenging situation, saying, “If you read the news, it feels like armageddon. I can’t walk past the TV without seeing a Tesla on fire. What’s going on?” However, he expressed confidence in the company’s future, particularly in the realm of autonomous driving, and urged employees to “hang on to your stock.”
Musk also discussed priorities for Tesla’s operations team, emphasizing the importance of the Cybercab, the company’s upcoming robotaxi. He described the Cybercab as a “revolutionary car design” and a “revolutionary manufacturing process.”
Another notable point from the meeting was Musk’s ambitious targets for the production of Tesla’s Optimus robots. He said the company aims to build 5,000 Optimus robots this year, with the potential to produce up to 12,000 if parts are available. Musk compared the scale of production to a Roman legion, stating, “I think we will literally build a legion, at least one legion of robots this year and then probably 10 legions next year.”
Interestingly, despite recent criticism from some investors regarding Musk’s political involvement, particularly his work with the DOGE office, no employees asked questions about politics during the 30-minute Q&A session. Wedbush Securities analyst Dan Ives praised Musk for showing leadership and “reading the room” during this crucial time for employees and investors.
Musk also touched on his personal workload, admitting that he is “stretched pretty thin” with “like 17 jobs.” He mentioned that he essentially works seven days a week, going from sleep to work and back again, but expressed his enjoyment of being productive and getting things done.
Read more at Business Insider here.
Lucas Nolan is a reporter for Breitbart News covering issues of free speech and online censorship.
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