When Elon Musk posted his April Fool's/Easter joke re a Tesla Bankruptcy, it appears no one was laughing.
CB Insights reports that the Company has lost $8B of its market cap in the last week. Just check out the 3 month stock chart.
Oh dear. Who knew our darling Tesla would ever be cited as having "Enron-esque" characteristics.
You may recall Enron - the darling of America's energy industry that during its heights had a market cap that exceeded $60 billion. It left behind a human cost that still has shocks today - 29,000 people lost their jobs and medical insurance. The employee who worked an honest life’s work on an average wage, having invested their life’s pension in the company, walked away with only $4,500 in severance and saw their 300K pension fund transformed into only $1,200. Investors lost 1.2B in pension funds and retirees lost just over $2B... Many people took their own lives and the financial impact destroyed families. The 85,000 strong Audit Firm Arthur Anderson imploded... all while Enron's top executives paid themselves $55M in bonuses.
Unfortunately, 3 characteristics were synonymous with Enron
Instead of being inspired by Trump's tweet tactics and raising its investors concerns, perhaps its time for Musk to consider his LEADS* in both their corporate decision making and his corporate communications.
Alas, for Musk, this April Fools, investors and Tesla's stakeholders were in no laughing mood.
It's time to adopt Enron's old catchcry, and "Ask "why?".
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