Tesla is among the stocks that retail traders just dumped en masse
CNBCJUL 2022
The Spin
Narrative A
Tesla’s stock saw a massive drop Monday morning after the news of CFO Zachary Kirkhorn’s departure, and it’s easy to see why. Not only was Kirkhorn an excellent executive who oversaw Tesla’s rise to profitability, but he was also a potential successor to the erratic Elon Musk. Without Kirkhorn’s steady hand, Tesla’s market price could continue to drop.
Narrative B
Zachary Kirkhorn did a great job as Tesla’s CFO, but the company will remain in good hands when Vaibhav Taneja takes over. Kirkhorn will remain with Tesla through the end of 2023, ensuring his departure won't cause any sudden problems. Tesla’s earnings are up this year and its stock price has soared — investors should be excited about Tesla’s future.
Metaculus Prediction
There is an 18% chance that Tesla will be the largest car company in the world (by sales) before 2035, according to the Metaculus prediction community.
