'Nosediving sales': Columnist outlines best way to put Elon Musk 'in dire straits'
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1 month, 1 week ago

'Nosediving sales': Columnist outlines best way to put Elon Musk 'in dire straits'

Raw Story  

Billionaire Elon Musk has sparked widespread anger with his efforts to illegally shut down entire government agencies without any congressional authorization, but Slate columnist David Zipper believes that there is a simple way to significantly hurt Musk through a consumer boycott of his electric car company. "Consider: If Tesla’s price-to-earnings ratio fell from 181 to 50 — a figure still at least eight times as high as Toyota’s or Ford’s — its stock price would tumble 70 percent," he muses. "If the value of his Tesla stock falls, lenders could force Musk to sell additional shares," he explains. "Many Tesla investors may see that as a vote of no confidence in the company’s future, prompting them to sell shares—triggering a full-on Wall Street rout, with Tesla’s stock crashing in value."

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