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Fascinating. Has there ever been a case where a CEOs actions solely were the reason for such a huge drop in sales? How unprecedented is this?
by SlightlyLeftPad 2y ago
Fascinating. Has there ever been a case where a CEOs actions solely were the reason for such a huge drop in sales? How unprecedented is this?
- jqpabc123 2y agoI'm sure there are other cases but none of this magnitude that comes to mind. But the real truth is --- the 40% percent drop in TSLA follows a 40% gain that was wasn't justified and was based solely on Musk's association with Trump. But a deeper, more fundamental truth is --- Tesla is all but dead as a consumer car company and I think Musk knows it. It is facing increasing competition at every turn without the political angle --- which only makes things worse. The company is living on "Full Self Driving" which has been promised over and over again for the last decade to the point where it has become a running joke.
- SlightlyLeftPad 2y agoThere’s this weird phenomenon where people very commonly attribute these companies’ success and accomplishments solely to Elon too which I don’t think I’ve really seen happen anywhere else except maybe Apple with Steve Jobs. He probably deserved it somewhat although he also actively dismissed the sentiment publicly. Naturally, he seemed like he was still a jerk in other ways.
- JohnFen 2y agoNot precisely analogous, but maybe the most famous case of this sort of thing is Gerald Ratner, who caused his jewelry company's stock to fall by 80% when he publicly stated that his company's products were crap. Thus was born the phrase "doing a Ratner". This article contains other examples of CEOs devastating their businesses in similar ways. https://thehustle.co/gerald-ratners-billion-dollar-speech https://thehustle.co/gerald-ratners-billion-dollar-speech