Elon Musk Begs Tesla Staff Not to Sell Their Stocks

Tesla's financial health isn't looking great lately, to put it mildly. Earlier this week, four top senior executives at Tesla dumped their stocks amidst an ongoing freefall caused by poor quarterly sales, tons of recalls, and global protests against CEO Elon Musk. Now, after the loss of some of his highest-moneyed investors, Musk is pleading with Tesla employees not to do the same. "There are times when there are rocky moments, a little bit of stormy weather, but I’m here to tell you the future is bright and exciting," the oligarch said during an all-hands message with Tesla employees. "What I'm saying is — hang on to your stock." In the past, Tesla has operated on a merit-based equity award plan, meaning salaried employees are often eligible to receive stocks as part of their yearly salary adjustments. That plan hit the rocks in 2023, when a company-wide halt to equity awards was announced due to a "challenging economic environment." That move was thanks to a 6 percent stock slide ... Read full article.