Description: Elon Musk unloaded another large chunk of his Tesla stock this past week, driving the share price down 16% in a week. Of course, this does not leave investors in a very good mood, and one major investor is calling for Musk to step down as CEO of Tesla. Musk has sold close to $40 billion in Tesla shares in little over a year, largely it would seem to fund his purchase of Twitter.
Date: December 16, 2022
1) Do you see any Tesla’s on your university campus? Are you interested in owning one?
2) What impact do you think that Elon Musk’s purchase of Twitter has had on the Tesla brand?
3) The story tells us that “Tesla ended the week with a market capitalization of less than $500 billion for the first time since November 2020.” Consult Page 11-7 of Wiley’s Financial Accounting: Tools for Business Decision-Making to determine how market capitalization is calculated.