Elon Musk hits back at being blamed for Tesla cratering toward its worst year ever, says people are saving instead of buying stocks

Dec 21 2022 by Business Insider

 
Elon Musk said Tuesday that Tesla is on track for its worst-ever year because rising interest rates have made cash more attractive than stocks.

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Elon Musk said Tuesday that Tesla is headed for its worst year ever because rising interest rates have made cash more attractive than stocks. Tesla shares have plummeted 38% since Musk finalized his Twitter takeover on October 27. The tech-heavy Nasdaq index has fallen 2% over the same period.

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