Tesla

Regulators said the issue was likely caused by an unapproved soap used during manufacturing.

“There is nothing I hate more, but it must be done,” Tesla’s centibillionaire CEO Elon Musk reportedly said about his company’s decision to eliminate more than 10% of its workforce.

Demand is high and supply is low for the CyberBeast, the highest-end version of Tesla’s cyber truck.

Billionaire Tesla CEO Elon Musk announced Friday afternoon in a post on X that Tesla will unveil its highly anticipated robotaxi later this summer—delivering an after-hours boost to the company’s beleaguered stock.

It was a “nightmare quarter” for Elon Musk’s electric vehicle titan.

Musk’s net worth is down almost $60 billion in 2024 alone, according to Forbes’ estimates, as Tesla stock tanked and a judge swatted down Musk’s record compensation package.

Novo Nordisk and Eli Lilly each have a higher market capitalization than Tesla, a dramatic shift from the end of 2021, when Tesla was worth four times more than each of the weight loss kingpins.

Musk’s $56 billion compensation package was voided in January in a lawsuit brought forth by a Tesla shareholder.

Tesla has lost $210 billion of market value in 2024 while Eli Lilly gained $140 billion, as investors trade ditch their EV optimism for the GLP-1 craze.

Uninspiring earnings and a “black cloud” from Elon Musk drama have sent Tesla shares down 27% in 2024.