The Tesla Stock Whirlwind Continues As Employees Share Onboard Camera Footage
Key Takeaways
- Tesla was in the news last week after it was reported that employees have been sharing sensitive footage recorded on the on-board cameras
- It includes images of accidents, nudity and even inside people’s garages
- It’s the latest in the seemingly never ending string of controversy for Tesla and CEO Elon Musk, creating significant share price volatility as a result
Full frontal nudity and major accidents caught on camera and shared in Tesla group chats
Barely a week goes by where Tesla and/or Elon Musk are in the headlines, and last week was no exception. Tesla employees have allegedly been sharing videos recorded by Tesla cars onboard cameras and it contains sensitive, and sometimes gruesome, footage.
According to Reuters, employees have been sharing the videos in group chats between 2019 and 2023, including footage of a child on a bike being hit by a Tesla at full speed and full frontal nudity.
There has even been suggestions that footage from inside Elon Musk’s own garage has been circulated, capturing images of a on-of-a-kind submersible Lotus used in a 1977 James Bond movie, which is owned by Musk.
It’s been called a major breach of customers’ privacy, but it’s hardly the first controversy that the eccentric billionaire has had to weather. Regardless of this and the recent volatility, it’s hard to deny that Tesla has been a phenomenal investment for those who got in early with its stock up almost 800% over the past five years.
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How has the Tesla stock price been impacted?
Tesla stock is no stranger to volatility. It’s gone through periods of massive growth and huge crashes, and right now it’s feeling the heat. It’s not just this privacy issue which is moving the share price downwards, with the electric car pioneer being pressured on many angles.
As well as these revelations, Tesla stock is also under constant barrage from the personal exploits of Elon Musk. Right now, that’s centered around Twitter, where he is attracting new criticisms on a weekly basis.
Not only that, but from a fundamental standpoint the company is facing increased competition as well. They’re no longer the only name in electric cars, with every major manufacturer now offering fully electric options in their lineup.
It’s forcing Tesla to cut prices, putting pressure on margins.
All of this means the Tesla stock price is down over 10% over the past week.
The bottom line
Tesla is a perfect example of a high growth tech company. It experiences a high level of volatility, which can lead to big gains, as well as big losses. For investors, the best way to invest in companies like this is with proper diversification.
It means accessing the potential gains, while also spreading the risk. Our Emerging Tech Kit is a great example, using the power of AI to invest in a wide range of tech securities, and rebalancing automatically on a weekly basis.
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