Teslarati 
Tesla CEO Elon Musk affirmed his confidence in the electric automaker by stating it will be great long-term, despite the stock slide that continues to affect shares.
Tesla shares (NASDAQ: TSLA) have slid considerably in 2022, along with many other automotive and technology stocks. On Tuesday, the decrease continued as the stock reached levels as low as $156.91. At the time of writing, shares were trading at $161.35, down 3.86 percent on the day.
Amongst a broader market decline, Tesla shares have been affected by various external factors this year. Along with Musk’s $44 billion acquisition of Twitter earlier this year, which has Tesla loyalists divided, the company has experienced an increase in competition due to more models and manufacturers entering the sector, and supply chain issues still stemming from the COVID-19 pandemic.
Once worth $1 trillion, Tesla has declined to a valuation that is worth roughly half of that. While the second-most valuable car company, Toyota, is only worth around $197 billion, Tesla still holds the title of the most valuable automaker on Earth.
MUSK: TESLA WILL BE GREAT LONG-TERM
In a response to WholeMarsBlog, Musk said, “Tesla will be great long-term, but doesn’t control macroeconomic tides.”
From a macro perspective, Musk is right. Tesla is up over 600 percent in the past five years. Over the past year, a fifty percent decrease in stock price has been the much more surfaced trend amongst media outlets, but the company has not been the only automaker to experience a rough 2022. Nevertheless, the debate regarding what to do with holdings still rages on.
TESLA SHARES: BUY OR SELL
Discussions amongst Tesla community members have been polarizing, with many die-hards sticking to their plan to hold shares. Jason DeBolt, who is one of the most notable Teslanaires, retired from his corporate job at the age of 39 thanks to his earnings through Tesla stock. Although the company is still being affected by a broader market decline, DeBolt has considered loading up even more shares.
Others, however, are unwilling to ride the wave and have either decided to sell because of market conditions or because of personal opinions on Musk.
TESLA’S 2022 PERFORMANCE…AND OTHERS
Tesla’s 59.68 percent decrease in 2022 defies all of the things the company has accomplished for the year. It opened two new production facilities, expanded global production capacity to well over one million vehicles, and is set to deliver over one million cars in a year for the first time.
Tesla launched the Semi last month, adding to its penetrable markets through commercial projects. The company still overwhelmingly leads the U.S. market share for EVs, so what’s the issue?
Tesla, while it has much more to worry about than just building cars and energy systems, is not the only car company experiencing a downturn this year. Tesla shares are down 59.88 percent this year, but here’s how others are doing in 2022:
- Ford stock: $F – down 37.99% this year
- General Motors stock: $GM – down 36.91% this year
- Rivian stock: $RIVN – down 75.63% this year
- Lucid stock: $LCID – down 80.42% this year
- Polestar stock: $PSNY – down 67.38% this year
