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Tesla CEO Musk May Have More Freedom Now That Twitter Has a New CEO

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Tesla CEO Musk May Have More Freedom Now That Twitter Has a New CEO

(CTN News) – Tesla Analysts believe that Elon Musk’s decision to appoint him as CEO for Twitter may provide him with a larger focus on Tesla Inc., which is trying to deal with a drop in demand for its electric vehicles due to a drop in demand from China.

On Friday, shares of Tesla Motors, the world’s largest maker of electric vehicles, rose by nearly 3%, after rallying nearly 40% this year. During Musk’s on-again, off-again attempt to acquire Twitter, the stock suffered its worst year in 2022, with a loss of 65%.

Since Musk purchased Twitter for $44 billion, investors have been concerned that Musk may not be able to dedicate all his attention to Tesla, which is in the midst of a price war with upstarts and legacy automakers alike.

According to Gene Munster, Managing Partner at Deepwater Asset Management, this will be a fractional positive for Tesla shareholders since he will spend a little bit more time on the company. There are, however, other things vying for his attention.”

It was reported on Thursday that Musk had found a new CEO for Twitter, but he did not name the person, and that he was stepping aside to take on the role of chief technology officer at Twitter instead.

A source with direct knowledge of the matter said that Comcast Corp’s NBCUniversal executive Linda Yaccarino was in talks for the top job at the social media platform, according to the source.

According to NBC Universal, Yaccarino is leaving the company as of Friday.

According to Hargreaves Lansdown analysts, Tesla investors may also rejoice since Musk’s very hands-on approach at Twitter raised concerns that he was ignoring this EV giant.

Even though Twitter has taken most of Musk’s attention since it was taken over by the company, Musk still manages several other companies on a daily basis, such as SpaceX and Neuralink.

TruthGPT is Musk’s AI company that was formed recently with the intention of competing with OpenAI’s ChatGPT as well as Alphabet Inc’s Bard AI software.

It has been quite chaotic for Musk when it comes to his involvement with Twitter.

Aside from cutting thousands of jobs at the social media company, he has fired its top executives, including its CEO, and he has made many changes to the company’s policies and strategy in order to rely less on advertising revenue and more on revenue from subscriptions.

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