Tesla Stock Plummets, but Employees Remain Unfazed
Tesla’s stock has taken a significant hit this year, plummeting 44% year-to-date amid concerns over slowing sales, increasing competition, and CEO Elon Musk’s controversial activities. However, interviews with Tesla employees reveal a surprising level of confidence despite the company’s tumultuous stock performance.
In conversations with ten Tesla employees, a consistent theme emerged: most are not worried about short-term stock fluctuations. Instead, they emphasize the stock’s long-term growth, noting that it’s still up 30% from last year and has seen an astounding 800% increase over the past five years.
To cope with the volatility, some employees have adopted strategies such as avoiding regular checks of the stock price. Internal forums show no unusual concern about the current stock performance, with employees focusing on factors beyond their control, particularly Musk’s actions.
While stock grants remain a significant part of Tesla’s compensation package, some employees are shifting towards long-term cash options due to the recent volatility. Tesla is known for offering lower base salaries but substantial stock grants, a strategy that has attracted talent in the past but may be causing some to reconsider their options.
Interestingly, employees seem more concerned with external protests and Musk’s political associations than the stock price itself. There have been instances of internal conflict over Musk’s social media activity, with some employees questioning the relevance of his behavior to their roles within the company.
Despite these challenges, most Tesla employees remain optimistic about the company’s future. Regardless of the controversies surrounding Musk, they express confidence in the product’s ability to drive sales.
As Tesla navigates these turbulent waters, the resilience and confidence of its workforce may prove to be a valuable asset. The coming months will reveal whether this optimism is well-founded or if the current stock slump signals deeper issues for the electric vehicle giant.
