12/1/2020, 6:40 PM (Source: TeleTrader)
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Musk warns Tesla must focus on profits - report

Tesla CEO Elon Musk warned employees that the company must focus on profits and cost-saving measures or else its shares will suffer, according to an email obtained by Electrek on Tuesday.

"When looking at our actual profitability, it is very low at around 1% for the past year. Investors are giving us a lot of credit for future profits, but if, at any point, they conclude that’s not going to happen, our stock will immediately get crushed like a soufflé under a sledgehammer!" Musk told employees in the email.

Tesla's stock is up nearly 600% on a year-to-date basis and is set to join the S&P 500 Index on December 21.

Breaking the News / JC