The First Technical Problems Of Twitter Under The Leadership Of Elon Musk, Tesla Shares Worst Of The Year
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The companies of a business magnate and investor Elon Musk have been struggling with problems lately. Tesla has a problem with listing on the stock exchange and Twitter with technical problems. Around 10,000 people reported Twitter going down Wednesday night.
Twitter's performance has been under scrutiny since Musk completed his takeover of the company in late October. He then downsized the company's workforce, leading some former employees and outside observers to question whether the cutbacks would hamper Twitter's operations.
Users who tried to log in via their desktop browsers on Wednesday received an error message. The Twitter Spaces tab, which allows users to join real-time conversations with others, also did not work on the platform's mobile app version. Other aspects of the Twitter app seemed to work well for users, including the ability to tweet.
The problems were solved after about two hours.
Musk, when asked on Twitter if there had been a service disruption, tweeted "It's working for me." It wasn't clear from which Twitter function Musk sent the message.
Twitter, like many online platforms, has had occasional outages in the past due to technical glitches, including one in July. The outage occurs amidst a brawl between Twitter and Elon Musk, the world's richest man.
Internet outages are quite common and have affected many tech companies over the years, although the length of the outages can vary greatly. They can affect people's ability to do business or connect with friends and family.
Twitter shares hold their level above 50.0. Thus, they have the best month of the year.
Tesla
Elon Musk's electric vehicle maker is nearing its worst December stock performance and endured a seven-day streak after Tuesday's close. It was Tesla's longest streak since September 2018, when the company struggled to get its new Model 3 into the hands of customers.
Tesla has lost almost a third of its value in the past seven days of losses, returning to August 2020 levels. The stock rebounded slightly on Wednesday, closing 3.3% higher.
Musk Twitter call Spaces signaled that he would not be selling any Tesla stock for at least 18 to 24 months. The chief executive has liquidated more than $39 billion in the company's stock since the stock peaked in November 2021.
The billionaire's comments on Twitter Spaces were among his most expansive responses to Tesla investor concerns that he had been distracted since he bought Twitter in October in a $44 billion deal. Tesla shares have fallen more than 60% this year, underperforming the broader market.
Some of Musk's actions on Twitter and his political comments on the platform have raised concerns that Tesla's brand could suffer. The company's image has deteriorated in recent months, in part because of Musk's Twitter involvement, according to brand surveys.
The Tesla boss also said the car company will continue to invest as part of its growth plans.
He said the company was "close to choosing a location for its next Gigafactory", without giving details. He said Tesla also plans to start refining lithium for batteries at its Corpus Christi, Texas facility in about two years to help the electric vehicle maker meet demand for materials needed for power cells.
As mentioned above, Tesla shares are the worst of the year. Such low levels of the electric car manufacturer has been recorded since 2020.
Source: wsj.com, finance.yahoo.com
