Elon Musk is going to court for his tweets about Tesla Part 2

The basis of the lawsuit is the idea that Teslas shares wouldnt have fluctuated so much if Musk hadnt raised the possibility of buying the business for 420 per share

Since then, Teslas stock has split twice, making that 420 price now only worth 28 on an adjusted basis The stock fell from its split-adjusted peak of 41450 in November 2021 to close last week at 12240

After Musk abandoned the idea of a Tesla takeover, the company overcame a production issue, leading to a sharp increase in car sales that sent its stock soaring and made Musk the richest man in the world until he acquired Twitter

Musks position at the top of the list of richest people declined as a result of the stock markets reaction to his management of Twitter

Given that the witness list for the trial includes some of Teslas current and former top executives and board members, including notables like Larry Ellison, the co-founder of Oracle, and James Murdoch, the son of media mogul Rupert Murdoch, the trial is likely to shed light on Musks management style

The drama may also shed light on Musks relationship with his brother Kimbal, who is also on the list of potential witnesses who could be called during a trial that will last until February 1 Kimbal is also scheduled to testify during the trial

With Teslas stock price plummeting and its sales of vehicles slowing, the company on Friday slashed prices on a number of its models, making some of them eligible for a new federal tax credit that may help boost interest from buyers

In the United States, the company reduced the cost of some versions of its best-selling Model Y SUV by nearly 20 More Model Y models will be eligible for the 7,500 electric vehicle tax credit, which will be offered through March, thanks to that reduction

Additionally, Tesla decreased the base price of its least expensive model, the Model 3, by about 6

Wedbush analyst recently stated in a report that we believe all together these price cuts could spur demanddeliveries by 12-15 globally in 2023 and shows Tesla and Musk are going on the offensive to spur demand in a softening backdrop

Next : Lord Ganesha's Love: Health, Happiness, and Harmony for Our Family
Read More