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Elon Musk Urges Tesla Employees to 'Hang On' to Company Shares

Tesla CEO Elon Musk urged the company's employees to 'hang on' to their shares during a general meeting where he acknowledged that 'it feels like Armageddon' after seeing news about attacks on his dealerships and vehicles.

Musk addressed employees at a meeting in the Texas Gigafactory on Thursday evening, promising that 'overall, everything is good' for Tesla, praising the recent sales performance of its Model Y and Cybertruck. However, he added: 'If you read the news, it feels like Armageddon.'

'I can't walk past a TV without seeing a burning Tesla. You'd think - what is going on?' Musk said.

'Some people, I understand if you don't want to buy our products, but you shouldn't set them on fire - that's a bit unreasonable, you know. It's mentally ill, it's awful,' he continued, causing smiles in the audience. 'Stop being psychos, okay?'

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The price of Tesla shares has plummeted in recent months with Musk's more frequent appearances in Washington, D.C., where he heads the Department of Government Efficiency (DOGE) for the Trump administration.

On Friday morning trading, Tesla shares were priced around $236, compared to a peak of nearly $480 in late December.

Musk advised employees to be patient.

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'Autonomous Teslas will be everywhere. In five years, likely we will receive regulatory approval, I think, on all continents, so there will be autonomous Teslas on every continent carrying people, and almost all our fleet, which will exceed 10 million vehicles next year, will be capable of full self-driving,' he said.

'For people in the stock market, it's very hard - especially for those looking back in the rearview mirror, to the notion of the future, when suddenly a fleet of 10 million vehicles will have five to ten times more utility. But that will happen in the future... so I'm saying, hold on to the shares,' Musk continued.

The meeting took place on Thursday after the Department of Justice announced that three individuals had been charged in federal cases related to attacks on Tesla properties in the U.S.

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