Reading Musk’s statement, I found a few interesting tidbits beyond the obvious. Maybe I’m going a little bit tinfoil hat here, but reading between the lines, it almost looks like he’s setting some expectations for some bad stuff down the line.
- He kept mentioning how they’re a small company. Apparently he’s unaware of his market cap, or is going off of their production and sales volume. Regardless, I found this interesting as it almost seems like it’s downplaying the company and subtly setting expectations for what their production will be.
- He mentioned their primary goal is not profitability, but to push and advance the use of electric cars. He then said they need to achieve profitability however. I just thought it interesting that they’re once again going back to profitability not mattering here, which could be a prelude to not hitting profits.
- He further mentioned that his goal was to move the industry towards electric transport as being the main goal of TSLA, and then mentions how difficult the car industry is as a whole. It’s interesting that he brings up bankruptcy here regarding the auto industry (mentioned how ford and TSLA are the only car companies that haven’t gone bankrupt). Well… considering the auto industry is now moving towards EV’s, this almost seems like him sounding a victory bell for his “goals” and ignoring the other issues at TSLA.
Difficult, but necessary Tesla reorg underway. My email to the company has already leaked to media. Here it is unfiltered: pic.twitter.com/4LToWoxScx
— Elon Musk (@elonmusk) June 12, 2018
Elon: "since Tesla has not made an annual profit in the almost 15 years since we have existed, profit is obviously not what motivates us" !!!!!!!!$TSLA $58 BILLION market cap !!!!!!!! pic.twitter.com/gRyGbo7uzy
— ZeroShorts (@zeroshorts) June 12, 2018
TESLA HAS SLOWED HIRING BY 73%, DROPPING 1,165 OPEN POSITIONS IN JUST THE PAST MONTH
On May 10, 2018, Tesla was listing 3,214 open positions. As of June 10, 2018, there are just 2,049 open positions at the company. That’s a drop of 36%, or 1,165 positions.
It’s possible that Telsa is doing a lot of hiring and has simply taken the filled positions off of its job-listings site, but it’s highly unlikely that the company has been able to fill over 1,100 positions in just a month. This also comes at a time that the company has said it instends to hire 400 people a week to meet production demands at its Model 3 Fremont facility. In fact, openings in Fremont are down at a proportional factor:
The majority of the change is even more recent than May, however. A week ago, the company’s job-listings site showed 2,677 positions. Compared to today’s 2,049 positions, that’s a drop of 628 positions in just a week.
A comparative analysis of the two dates (May 10 and June 10) revealed that around 1,600 positions have been disappeared from Tesla’s job listings since May 10, 2018, meaning some may have been reposted and removed during that time, or other positions have been added since then as those original positions were filled.
We reached out to Tesla for comment and will update here if and when we get a statement.
TSLA (monthly) top bump and run formation — at some point, the pattern will break the center ascending line and reverse.