Elon Musk Just Predicted Exactly When Tesla Stock Will Rebound

Kimbal Musk

In an email to Tesla employees Friday night, Musk congratulated them on manufacturing progress, yet indicated that "radical improvements are still needed" over the next couple of weeks if they are to meet quarterly targets. CNBC posted what it said was a copy of the email in which Musk said the sabotage included the using of false usernames to make changes to the code used in the Tesla Manufacturing Operation System, as well as "exporting large amounts of highly sensitive Tesla data to unknown third parties".

According to Musk's email, the unnamed employee claimed he had become disgruntled after failing to receive a promotion.

"We need to figure out if he was acting alone or with others at Tesla and if he was working with any outside organizations", Musk said.

Musk wrote of his suspicions that another company may have been involved in the alleged sabotage, saying "there are a long list of organizations that want Tesla to die". He referenced Wall Street short sellers "who have already lost billions of dollars", oil and gas companies that "don't love" to see solar power and electric cars advancing, and automakers that produce gasoline and diesel vehicles. The fire was put out quickly, and no employees were hurt.

"Could just be a random event, but as Andy Grove said, "Only the paranoid survive", Mr Musk wrote on Monday, referring to the former chairman and CEO of Intel Corp.

This isn't the first time Musk has made a bold prediction about his company's stock-he predicted the "short burn of the century" last month before purchasing about 72,000 Tesla shares for himself-but it is the first time he's given a timeline.

Tesla is in the process of rapidly expanding production of the Model 3 sedan.

Tesla recently confirmed that it would lay off about 9% of its employees amid a broader restructuring of the company. The spokeswoman said smoldering in an air filter in the welding area of Tesla's body line was extinguished in a matter of seconds.

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