Tesla shares plummet after Elon Musk promises ‘hardcore’ cost-cutting

//Tesla shares plummet after Elon Musk promises ‘hardcore’ cost-cutting

Tesla shares plummet after Elon Musk promises ‘hardcore’ cost-cutting

Shares of Palo Alto-based Tesla plunged 7.5 percent today to a new two-year low, after CEO Elon Musk promised employees that the company would undergo “hardcore” cost-cutting measures to stay solvent. Shares closed at $211.03, a price it hasn’t seen since December 2016. The stock traded as high as $375 per share in December, but has since slid about 43 percent. In a new all-hands memo, Musk said he’d order every team to examine every payment, have CFO Zach Kirkhorn review and sign every…

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By | 2019-05-17T20:38:25+00:00 May 17th, 2019|Budget and Tax|

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