Elon Musk Just Predicted Exactly When Tesla Stock Will Rebound
- Author: Rogelio Becker Jun 21, 2018,
Jun 21, 2018, 2:34
Elon Musk listens at a press conference following the first launch of a SpaceX Falcon Heavy rocket at the Kennedy Space Center in Cape Canaveral, Florida, U.S., February 6, 2018.
In the memo, Musk wrote that the employee fabricated user names to change the software code for the company's Tesla Manufacturing Operating System, a term that Tesla hasn't used in public, but appears to describe the in-house system that ties together its manufacturing operations.
Tesla declined to comment on the e-mail.
"The full extent of his actions are not yet clear, but what he has admitted to so far is pretty bad", Musk wrote. The cuts won't impact Model 3 production, Tesla said.
According to Musk's email, the unnamed employee claimed he had become disgruntled after failing to receive a promotion.
Last week, Musk announced that nine percent of the company's workforce was being laid off, without specifying an exact number.
Now, CNBC has learned that Musk also sent an e-mail to all employees at Tesla late on Sunday night alleging that he has discovered a saboteur in the company's ranks.
However, the Tesla CEO also suggested the alleged saboteur could have been working with short sellers, oil and gas companies-whom he described as "sometimes not super nice"-or "the multitude of big gas/diesel vehicle company competitors".
"As you know, there are a long list of organizations that want Tesla to die", he wrote. "There were no injuries or significant equipment damage, and production is back online".
Now, this would be troubling for any company, and any CEO would certainly have a lot on their mind in a similar situation, but Musk being Musk, he made a decision to start wildly speculating in his email as to who the saboteur's true masters may have been. Although Musk said the reorganization does not impact production associates and is not expected to delay manufacturing targets, thousands of employees lost their jobs.
Tesla is in the process of rapidly expanding production of the Model 3 sedan.
Tesla shares climbed for a seventh straight day, adding 3.5 per cent to $370.83 on Monday.