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Tesla loses $68 billion in value after Elon Musk says he is launching a political party (www.cnbc.com)
submitted 1 year ago by to c/economics@lemmy.world
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KEY POINTS

Elon Musk said he would form a new political party called the “America Party.”

Tesla shares fell Monday after Musk’s announcement.

Tesla shareholders have wanted Musk to stay away from politics, especially after his stint at the so-called Department of Government Efficiency, which many have said damaged the automaker’s brand.

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[–] 37 points 1 year ago (16 children)

They should be seriously considering firing this fuck, by now. Everything he's done for the last couple of years has cost his investors money.

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  • [–] 14 points 1 year ago (5 children)

    Hahahaha - have you seen “the board”? It’s several bought-and-paid-for dipshits and members of his family. He’ll make a good decision before they oust him.

    Not happening. Never (unless it’s part of a scam, then yeah sure why not. Gotta fleece the stooges).

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  • [–] 7 points 1 year ago (4 children)

    Then it sounds like it would be a slam-dunk to prove in court, that the board is no longer honoring its fiduciary duties to its investors.

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  • [–] 2 points 1 year ago (6 children)

    Won't happen. His board are all sycophants.

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  • [–] 5 points 1 year ago (5 children)

    Then Tesla's investors should organize a class action suit against the board, for acting against their best interests.

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  • [+] 4 points 1 year ago* (4 children)
    [deleted]
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  • [–] 4 points 1 year ago (3 children)

    And yet, he's costing the rich a ton of money by tanking the value of his stock. That should take precedence over whatever "the board" decided to give him. The investors are the priority in a capitalist system...not the board. The board's job is to maximize investor returns. That's all.

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