Musk rallies Tesla workers amid stock plunge, touts long-term tech bets
US government 'efficiency czar' Elon Musk (R), pictured with US President Donald Trump, has urged workers to take the resignation deal.
AFP
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US government 'efficiency czar' Elon Musk (R), pictured with US President Donald Trump, has urged workers to take the resignation deal.
AFP
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Tesla CEO Elon Musk sought to reassure employees about the company’s long-term prospects during an all-hands meeting on 21 March even as shares continued to tumble and Tesla capped off one of its worst quarters since 2022.
Speaking to staff in a late-evening presentation, Musk invoked legendary investor Warren Buffett’s advice to focus on business fundamentals rather than daily market noise.
“I think it’s Warren Buffett’s sort of metaphor — the stock market’s like having someone stand at the edge of your property or your house and yell prices to buy or sell your house every day,” Musk said. “Sometimes they take their meds and sometimes they don’t.”
“Buy stock in companies where you think the product that company makes will be better in the future,” Musk said. “Do you love the products that company makes and are they going to keep doing that?”
Musk urged Tesla workers to “hang on to your stock,” reiterating his belief that the company’s advancements in robotics and autonomous driving will make Tesla “the most valuable company in the world” over time.
The all-hands meeting also highlighted key milestones, including Tesla reaching over 7 million vehicles produced globally and the Model Y becoming the world’s best-selling vehicle. Musk projected that Tesla could hit 10 million cumulative vehicles produced by next year.
He also touted progress on Tesla’s AI initiatives, including the Dojo supercomputer, which he said now handles 5–10% of the company’s AI training workload. Musk added that the Cybertruck is now the top-selling electric pickup in the U.S., marking a major win for the company’s new product line.
Despite the upbeat tone, the timing of the meeting followed a wave of negative headlines that have weighed heavily on Tesla's stock.
Tesla's stock price decline continued on Monday, 31 March, amid growing investor concerns and critical coverage. Shares dropped as much as 7% during the session to $243.36 before recovering some ground to close down by 1.7%.
The first three months of 2025 marked Tesla’s worst quarterly performance since 2022, with shares falling more than 35% year-to-date.
Musk acknowledged the uncertainty in the near term but remained optimistic about the company’s trajectory. “While it’s difficult to predict how things will be from you know in the next day six to 12 months, if you say like where will things be in three years or five years, the future of Tesla is incredibly bright.”
