THE LAST DAYS of 2022 were relatively good to Tesla, Inc. (TSLA on the Nasdaq). Last Tuesday saw the company’s share price plunge to $109.10 at close, but by the end of the week it had floated back up into the low $120s. Maybe Elon Musk—after losing an unprecedented $200 billion in net worth—was seeing the light at the end of the tunnel?
As if any of Musk’s tunnels could ever get anywhere! TSLA had already melted so far that even with that brief recovery, Bloomberg reported that Musk’s holdings in the company were no longer his most valuable asset:
The decline in Tesla shares has been so steep — the shares fell 65% in 2022 — and Musk has sold so much this year to help cover his Twitter purchase, that they’re no longer his biggest asset, according to Bloomberg’s wealth index. Musk’s stake in his closely held Space Exploration Technologies Corp., at $44.8 billion, exceeds his approximately $44 billion position in Tesla stock (he still has options worth an estimated $27.8 billion). Musk now owns 42.2% of SpaceX, according to a recent filing.
And so, on the first trading day of the New Year, TSLA shares lost everything they’d gained back and then some, dropping as low as $104.64 before closing at $108.10. That left today’s closing price exactly $1 behind last Tuesday’s closing price of $109.10.
The $1 that Tesla lost in the past seven days would have been enough to buy any of the following:
• 40 tamper-resistant flat-head No. 4 machine screws
• One 5-inch-by-9-inch abdominal wound pad
• Five miniature 20-amp GMA fuses (3/4 inch)
• One 1984 Topps Omar Moreno New York Yankees baseball card (used, ungraded)
• One 2021 Donruss Optic John Riggins New York Jets football card (mint condition)
• One laminated 2006 Rand McNally EasyFinder map of Alabama highways and interstates
• A sheet of 20 United States Postal Service 5¢ additional-postage “Grapes” stamps (pinot noir)
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