JAKARTA - Tesla CEO Elon Musk said on Thursday 19 May that "Tesla is always on my mind 24/7,". The statement was an attempt by the world's richest conglomerate to calm investors' concerns about his focus being distracted by the Twitter deal that has weighed on the electric car company's electric shares.
Musk in his tweets on twitter posted a picture showing a woman (Tesla) who is annoyed with her boyfriend (Elon) for watching other women (Twitter). "So it might look like the following, but it's not true," Musk said in a tweet.
"To be clear, I spend <5% (but actually) of my time on Twitter acquisitions. This is not rocket science!" he tweeted.
"Yesterday was Giga Texas, today was Starbase. Tesla is on my mind 24/7."
Tesla this year opened its new car factory in Texas, and Musk's rocket company SpaceX has a launch site known as Starbase in Boca Chica, Texas.
Tesla shares have lost a third of their value since the billionaire revealed his holdings on Twitter in early April and sold $8.5 billion of Tesla stock in a move that looks to help finance Twitter's $44 billion deal.
Further losses that sent the stock down were China's lockdown measures reducing Tesla's production and Tesla's exclusion from the widely followed S&P sustainability index.
Tesla bull, Daniel Ives, an analyst at Wed
bush, last Thursday cut Tesla's share price target due to Chinese production disruptions and warned of "disruption risks" from Musk's Twitter deal.
Leo KoGuan, a major individual investor in Tesla, last Thursday also asked the electric car maker to buy back shares.
"Tesla must immediately announce and buy back 5 billion US dollars of Tesla shares from its free cash flow this year and 10 billion US dollars of its free cash flow next year, without affecting its existing 18 billion US dollars cash reserves with ZERO debt," KoGuan said in a statement. Twitter message to Tesla's head of investor relations, Martin Viecha. However Viecha could not immediately be reached for comment.
Last year, KoGuan, Tesla's third-largest individual shareholder, said he invested billions in Tesla because he believed in Musk's "great mission to share" with. He said in March that he was buying more of Tesla's stock, not selling during the stock's decline.
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