Musk Tells Tesla Employees Hang On to Stock After 50% Plunge

Elon Musk sought to reassure Tesla Inc. employees through what he referred to as “a little bit of stormy weather,” after the carmaker’s shares plunged more than 50% in just three months.

“If you read the news, it feels like Armageddon,” Musk said during an all-hands meeting broadcast late Thursday on X. The chief executive officer joked that he can’t walk past a television without seeing a Tesla on fire, then mocked his detractors. “I understand if you don’t want to buy our product, but you don’t have to burn it down. That’s a bit unreasonable.”