Tesla share price drops over 3%, as the U.S. car industry begins to set in an historic car strike. Musk shoots his mouth off. May send Tesla lower.



Tesla's share price probably keeps Elon Musk awake and night, since he leveraged heavily with his electrical car company to acquire Twitter, even borrowing one billion $ from SpaceX.  One could attribute the richest man alive, erratic and bizarre commentary that could very much be the telltale signs of stressed related irrationality.  From attempting to sue the Anti-Defamation League, which released data, after Musk had revamped Twitter into a so called 'free speech' platform, showing that there had been over 4 million anti-Semitic tweets.  And his attempts at having a bias geopolitical/political influence, more so with the war in Ukraine, beyond brokering any peace deal, Musk apparently, turned off SpaceX's starlink, so the Ukrainian military could not use his space internet system GPS to target Russian navy ships.  And his paranoia of AI is more aligned with distraction of the more pressing issues the CEO faces.  AI won't destroy the world, humans will.  And if one was to remove, the richest human on the planet 'tag' from Musk, he would just be your average run-of-the-mill, cherry picking, paleolibertarian, extreme right wing conspiracy theorist.

Tesla share price has followed the NASDAQ bull run, as inflation seemingly has abated and the market and investment banks are screaming for the Fed to pause and cut rates in 2024.   A rude awakening has washed over growth stocks, such as Tesla.  The oil price looks like moving towards $94 a barrel, as Saudi Arabia, in a bemusing manner, claims they are attempting to remove volatility from the oil price (do we now rethink our CPI metrics?).  Inflation related union strikes are occurring within the American car industry, thus dropping Tesla's price 3%, closing at $265 from Friday's 15th September $278.

Despite Tesla being a non-union car manufacturing company, Musk is bullying Unions with his Twitter powerbase, which in turn may have a negative effect on Tesla's share price.  

Comments