Elon Musk’s posts about politics and more have prompted some Tesla investors to sell their shares.
The world’s richest person – who briefly lost the title this week – often tweets late at night.
The latest was at 2:30 a.m. on Wednesday, in an apparent reference to his ownership of multiple companies.
These have become “too much” for investors like Trevor Goodwin, who held Tesla shares for five years before losing faith in Musk over his tweets.
The business analyst from Kansas City, Missouri told Bloomberg that he recently sold $30,000 worth of Tesla stock.
Goodwin and his wife both drive Teslas and have praised the company to friends, but he now says Musk’s erratic behavior makes him “too much to deal with,” and has held only a handful of Tesla shares. .
“It’s almost like he’s abandoned us in favor of his new mission,” Goodwin said.
Despite Tesla’s share price falling 56% this year to close at $174 on Wednesday, the stock is still up more than 700% over the past five years since trading at $21 on December 8 of 2017.
Earl Banning, a psychologist from Anchorage, Alaska, has been a Tesla fan and investor since 2015.
He said he has defended Musk online like many of the billionaire’s associates, but the latest episode “lost a lot of us.”
However, Banning does not plan to sell his shares, but wants Musk to be less political and provocative.
Besides these, other investors are also more concerned about who is really running Tesla.
That’s after Musk says he’s sleeping at Twitter’s headquarters to get more work done, but is now under investigation by San Francisco building inspectors for turning the offices into bedrooms.