Elon Musk's 'Peak of Gold' Has Lost its Shine, the Company Has Been Dismantled


 'It's normal for this human being to look back when he regrets it.'

Chief Executive Elon Musk's preoccupation with his 'new toy' not only upsets investors, but also puts electric car (EV) giant Tesla Inc on the brink of danger.

Tesla shares are now down to a low to trade at $160.95 and yesterday's good US inflation reading appears to have failed to spur buying.

In general, the company's biggest risk for now is due to the decline in demand in China which is the world's largest EV market.

It also indirectly forced Tesla to suspend production at its Shanghai EV factory starting this month until early next year to balance operations against weak consumer demand.

According to one of Miller Tabak + Co's chief market strategists, Matt Maley, the main concern that upsets Tesla is of course weak growth in China in addition to Musk's 'characterized' factor compared to Twitter.

Maley further explained that while China's reopening will boost investor sentiment, sales remain a concern as he predicts Tesla shares will fall as low as $150 soon.

Meanwhile, investors continue to voice their dissatisfaction with Twitter as a distraction as Musk tries to pay off the company's debt with a Tesla-backed margin loan.