Tesla shares fall 3.5 percent after CEO Musk abuses British diver

[DonViejo]

Source: Reuters

JULY 16, 2018 / 2:52 PM / UPDATED 12 MINUTES AGO

Reuters Staff

(Reuters) - Shares of Tesla Inc fell 3.5 percent on Monday after Chief Executive Elon Musk directed abuse on Twitter at one of the British cave divers involved in the rescue of 12 Thai children last week.

A number of analysts and investors, requesting anonymity, told Reuters that Musk’s comments are adding to their concerns that his public statements are distracting him from Tesla’s main business of producing electric cars. The share drop on Monday knocked almost $2 billion off the company’s market value.

James Anderson, a partner at Tesla’s fourth-largest shareholder, asset manager Baillie Gifford, called the weekend’s events “a regrettable instance” and said he had reiterated to the company the need for “peace and execution” of its core business.

The billionaire entrepreneur’s spat with British diver Vernon Unsworth started last week, after rescue teams rejected Musk’s offer of a mini-submarine created by his rocket company SpaceX to help rescue a 12-member soccer team and their coach trapped inside a flooded cave in the northern province of Chiang Rai.

Read more: https://www.reuters.com/article/us-tesla-ceo/tesla-shares-fall-3-5-percent-after-ceo-musk-abuses-british-diver-idUSKBN1K62H7

[PubliusEnigma]

1. Because that has so much to do with making cars.

[Bernardo de La Paz]

3. Musk's ego damages the Tesla brand. About SELLING cars, not making them.

Big, important difference.

[woodsprite]

2. Musk acting that way just proves he did it mainly for publicity.

Rather than being honorable and accepting that they didn't use his idea, but the kids and coach were still safely extracted.

[exboyfil]

4. I am shocked it is so little

Calling a heroic diver a pedophile seems pretty over the top. I can't imagine much worse. Looking at some other high profile CEO melt downs (Papa Johns, Centerplate) I can't see how this isn't impacting him more.

[SunSeeker]

5. Elon Musk is ruining his own legacy. He is his own worst enemy. nt

[kimbutgar]

6. I'm still mad after hearing he donated big bucks to one of those shadowy repuke pacs

No longer respect nor admire him anymore.

[BigmanPigman]

7. That did it for me too. Respect had already dwindled by this point.

[reACTIONary]

8. Thank goodness he's ....

.... a naturalized citizen and can't run for president. We don't need yet another childish egomaniac leading a personality cult.