Tesla CEO Elon Musk urged his company’s staff to “hang onto your stock” during an all-hands meeting in which he admitted that “it feels like Armageddon” after seeing news coverage of his dealerships and vehicles being targeted with violence.
Speaking at the company’s Texas gigafactory on Thursday night, Musk reassured workers by saying “overall, it’s good” for Tesla, touting recent sales figures for its Model Y and Cybertruck vehicles. However, he added, “If you read the news, it feels like Armageddon.”
“I can’t walk past the TV without seeing a Tesla on fire. You’re like — what is going on?” Musk said.
“Some people it’s like, listen, I understand if you don’t want to buy our product, but you don’t have to burn it down — that’s a bit unreasonable, you know. This is psycho,” he continued, drawing laughs from the audience. “Stop being psycho, OK?”
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Tesla’s stock price has plummeted in recent months as Musk’s presence has become more frequent in Washington, D.C., leading the Department of Government Efficiency (DOGE) for the Trump administration.
As of early Friday, Tesla shares were around $236 in pre-market trading, down from a peak of nearly $480 in mid-December.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 268.46 | +9.30 | +3.59% |
Musk suggested during the meeting that employees should stay patient.
“Autonomous Teslas will be everywhere. In five years, probably, we will have regulatory approval, I think globally, so you will have autonomous Teslas on every continent taking people on trip,s and almost the entire fleet — which will pass 10 million vehicles next year – is capable of full autonomy,” he said.
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“It’s very difficult for people in the stock market — especially those that look in the rearview mirror, which is most people — to imagine a future where suddenly a 10 million-vehicle fleet has five to 10 times the usefulness,” Musk continued. “But it will compute in the future… so what I’m saying is, hang onto your stock.”
The meeting took place Thursday after the Justice Department announced that three people were charged in federal cases involving attacks on Tesla properties in the U.S.
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“People that get caught sabotaging Teslas will stand a very good chance of going to jail for up to twenty years, and that includes the funders,” President Donald Trump wrote on Truth Social. “WE ARE LOOKING FOR YOU!!!”
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