'He abandoned Tesla': Company's investors lash out at Elon Musk's Twitter focus

Investors at Tesla have lashed out at its chief executive officer (CEO) Elon Musk for his distraction from the electric car company after its shares declined to hit their lowest levels in over two years on Wednesday. Musk, who took over Twitter in October, has diverted most of his attention towards running the social media giant.

A report by news agency Reuters on Wednesday said that Tesla's shares traded down 1.4%, after falling as much as 3.2% to $155.88 per share. This is the lowest level since November 18, 2020.

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The company's shares are one of the worst-performing stocks among major car and technology companies. According to a US security filing, Musk this week sold 22 million shares of Tesla worth $3.58 billion.

KoGuan Leo, one of the Tesla investors who is the company's third-largest individual shareholder, has put out multiple tweets criticising Elon Musk. Leo has said that Musk abandoned Tesla and it has no working CEO.

Elon abandoned Tesla and Tesla has no working CEO

Tesla needs and deserves to have working full time CEO

What Tesla BOD should do, do nothing? Elon will find his own successor under BOD independent supervision https://t.co/AJSvij9ncP

A fanboy of Musk, Leo tweeted on Wednesday that Tesla needs to have a working full-time CEO.

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"Tesla matters. Elon is a mere hired hands. He is our employee. Tesla is 19 year old, ranked 4th with 2.4% allocation in S&P, not a baby and soon be the biggest. Elon was the proud father, Tesla has grown up," he said in another tweet.

Leo pointed out that he was a multi-billionaire before he invested in Tesla. "I plan to invest more $billion because Tesla will be the biggest company with or without Elon. As his fanboy, I invested because of Elon. Of course, I prefer Elon to be CEO but he abandoned Tesla."

Leo also tweeted that he doesn't give a damn if Musk stays or leaves Tesla.

Gary Black, another investor, has expressed discontent over Musk's controversial tweets.

"He (Musk( will realize soon (if not already) that his polarizing political views are hurting customer perceptions of $TSLA EVs. Customers don’t want their cars to be controversial. They want to be proud as hell to drive them - not embarrassed," Black tweeted on Wednesday.

(With inputs from agencies)

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