Shulou(Shulou.com)11/24 Report--

Shares of Tesla, a US electric car maker, continued to fall to their lowest level in more than two years on Wednesday, local time. The main reason is that investors worry that CEO Elon Musk's acquisition of Twitter will distract him from Tesla.

Shares of Tesla in Tuyuan Pexels fell 2.58% on Wednesday, down 3.4% at one point in intraday trading, closing at $156.80, the lowest level since November 18, 2020.

Although Tesla remains the world's largest carmaker by market capitalization, its stock is one of the worst performers among major carmakers and technology companies this year. Even Musk's "fans" are lashing out at his efforts to invest Tesla in a series of moves after his acquisition of Twitter. Investors worry that Musk's acquisition of Twitter could affect his work at Tesla and may sell more Tesla shares to support Twitter.

Investors are also concerned that Mr Musk's series of antics could damage Tesla's brand and sales performance. Nowadays Tesla is facing more and more competitive pressure in the field of electric vehicles.

On December 12, KoGuan Leo, Tesla's third-largest individual shareholder, called himself a "fan" of Musk on Twitter, complaining, "Musk has given up on Tesla and Tesla has no chief executive."

"are we just idiots carrying Musk's bags?" "We need an executor like Tim Cook, not Musk," he said. "

Tesla's share price has fallen 55% so far this year, lagging behind major automakers and technology companies such as general motors, Ford, apple and Amazon.

Mr Musk said on Tuesday that he "will ensure that Tesla shareholders benefit from Twitter in the medium and long term", but did not elaborate.

Even Tesla's bulls and loyal fans expressed dissatisfaction with Musk's controversial tweets.

"Musk is an outstanding business leader. He will soon realize that his polarizing views are undermining customers' views on Tesla electric cars," Tesla bullish Gary Black wrote in a tweet on Wednesday.

"customers don't want their cars to be controversial. They want to be proud of driving Tesla, not embarrassed."

On Tuesday, Goldman Sachs cut the target price of Tesla's shares, as well as Tesla's fourth-quarter delivery volume and expected gross profit margin.

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