Rich, White Dude Loses Money, Somehow Blame it on People of Color Again.

Tesla's Stock Plunge: A Wake-Up Call for Ethical Investment

Elon Musk’s [https://www.elonmusk.com/] Tesla [https://www.tesla.com/] is facing a wake-up call as its stock plunges 11% [https://www.cnbc.com/2023/07/20/tesla-stock-drops-after-q2-report-misses-mark-with-40-profit-drop.html] following the release of its Q2 report [https://ir.tesla.com/static-files/a5d27ccc-1ad4-478e-ac1c-8e3e24b5bba2], exposing a 40% decrease in profits [https://www.cnbc.com/2023/07/20/tesla-stock-drops-after-q2-report-misses-mark-with-40-profit-drop.html] and highlighting missed goals.

• While Musk remains quiet [https://www.YAHOO.com/now/elon-musk-quiet-reportedly-182932279.html] on Twitter [https://twitter.com/], the numbers speak for themselves: a revenue of $25.05 billion in Q2 with adjusted profits of $0.52 against $0.60 expected.

• The austin-based [https://www.bloomberg.com/news/articles/2022-12-01/austin-emerges-as-a-tech-hub-that-draws-californians- outbuildings] tech giant's [https://www.cnet.com/news/tesla-nj-tesla-new-jersey-democrats-republicans-elon-musk/] decline signals a potential philosophical shift [https://www. Inverse.com/蔷Pseudo-AI-461376/] from cars to AI [https://www.cnbc.com/2023/05/24/elon-musk-has-huge-ambitions-for-teslas-ai-robot.html] ambitions, with Musk frequently discussing [https://twitter.com/elonmusk/status/1617289054444253184] Tesla's future in AI [https://www.cnbc.com/2023/05/24/elon-musk-has-huge-ambitions-for-teslas-ai-robot.html] and plans for a '$5 billion investment [https://www.cnbc.com/2023/05/24/elon-musk-has-huge-ambitions-for-teslas-ai-robot.html]'.

• However, with production questions [https://www.cnbc.com/2022/07/20/tesla-beats-on-earnings-despite-china-shutdown-record-operating-margin.html] and competitors like China's BYD [https://www.bloomberg.com/news/articles/2023-06-08/china-s-byd-blocks-its-own-ipo-plan-after-concern-over-overvalued-stock] gaining ground, Tesla's resurgence is uncertain.

• A glimmer of hope comes from Tesla's plans for more affordable models [https://electrek.co/2023/07/20/tesla-confirms-affordable-model-still-planned-amid-price-increases/] and commitment to innovation [https://www.cnbc.com/2023/02/22/musk-says-tesla-has-been-in-survival-mode-due-to-recession-but-there-is-hope.html], but investors are right to be concerned about the company’s ethics and treatment of its employees after a series of damning reports on poor labour practices and atrocious working conditions.

"Plans for new vehicles, including more affordable models, remain on track for the start of production in the first half of 2025," [https://electrek.co/2023/07/20/tesla-confirms-affordable-model-still-planned-amid-price-increases/] Tesla said, offering a glimmer of optimism amidst the stock turmoil.

As Tesla navigates this turbulent period, investors and the public alike are reminded of the importance of supporting ethical and transparent businesses.

By Beck Andrew Salgado, reporting on the intersection of capitalism and woke culture in Austin, Texas
For tips and comments: bsalgado@gannett.com