Multi-billionaire Elon Musk on Friday said that Tesla is on his mind all the time, in a way calming down the investors worried about him being distracted by a Twitter deal that has weighed on the stocks of the electric car manufacturing company.
In a tweet, Musk posted a photo where a woman (Tesla) is seen being upset by her boyfriend (Elon) looking at another woman (Twitter). The Tesla CEO said, "So may seem like below, but not true."
"So may seem like below, but not true. To be clear, I’m spending <5% (but actually) of my time on the Twitter acquisition. It ain’t rocket science! Yesterday was Giga Texas, today is Starbase. Tesla is on my mind 24/7." Musk tweeted.
To be clear, I’m spending <5% (but actually) of my time on the Twitter acquisition. It ain’t rocket science!
Yesterday was Giga Texas, today is Starbase. Tesla is on my mind 24/7.
So may seem like below, but not true. pic.twitter.com/CXfWiLD2f8
— Elon Musk (@elonmusk) May 19, 2022
According to reports, shares of Tesla lost one-third of their value since April this year when Musk revealed his stake in Twitter and sold stocks worth $8.5 billion of Tesla to help finance his $44 billion Twitter deal.
Also, COVID-19 induced lockdowns in China has affected production and recently S&P Global Ratings removed Tesla from the the Environment, Social and Governance (ESG) 500 index.
At the beginning of this week, S&P Global Ratings announced exclusion of the largest producer of electric cars from the sustainability list citing concerns related to working conditions at Tesla among its reasons.
Meanwhile, Musk has paused his bid to buy Twitter and said that he won't be moving forward with the deal until the social media giant proves that less than 5 per cent of the accounts on the site are fake or spam.
"20% fake/spam accounts, while 4 times what Twitter claims, could be much higher. My offer was based on Twitter's SEC filings being accurate," Musk tweeted earlier this week.
He further wrote, "... Twitter's CEO publicly refused to show proof of <5% (spam accounts). This deal cannot move forward until he does."