One month ago, SpaceX completed a record-breaking initial public offering (IPO), pushing Elon Musk's net worth above $1 trillion, making him the world's first trillionaire. Now, markets are demanding that both SpaceX and Tesla deliver on their promises, and investor patience is wearing thin.

Last week, Tesla's second-quarter profits fell short of market expectations, and free cash flow turned negative for the first time in over two years. Tesla's stock price crashed approximately 15% on Thursday, erasing over $200 billion in market value overnight.

Dillon Loomis, a long-time online influencer and Tesla observer, said: "I love Tesla, and I've been a super fan for over a decade. But if the company can't even come close to its targets, exaggerated promises only hurt the company and the many people who care about it."

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  • Source: PR Times
  • Category: News
  • Organizations: SpaceX