The new year begins for Musk as turbulently as 2022 ended, analyzes Handelsblatt editor Astrid Dörner.
(Photo: Imago, Handelsblatt Montage)
Tesla stock was once the big star on Wall Street. The electric car maker led by Elon Musk has long been valued more like a fast-growing and expensive tech company than a conventional car company.
Exceptional entrepreneur Musk was able to rely on loyal investors who trusted him more than other managers to lead the electric revolution. “12 months ago I was Person of the Year,” Musk wrote on Twitter earlier this week.
There was a good deal of melancholy involved. Because the good times are over. Tesla stock plummeted around 65 percent in 2022, performing just as badly as bitcoin, the largest and oldest cryptocurrency currently in deep trouble.
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