Published , by Ozzie Mejia
Published , by Ozzie Mejia
Tesla (TSLA) addressed the elephant in the room during Wednesday's Q3 2022 earnings call, as the topic of founder Elon Musk's purchase of Twitter eventually came up. Musk is thinking positively about the social media network, though he notes that keeping Twitter and Tesla in the same holding company doesn't make much sense.
Musk dismissed an investor question about keeping Tesla, Twitter, and his various other companies like SpaceX under one umbrella, noting that he's "not an investor." Because of that, he doesn't see a path where he'll bundle his various companies under a single holding structure.
Musk does acknowledge during the call that he is "obviously overpaying" for Twitter, hopes that its long-term value can overcome its current cost. For those that have missed out on the news earlier this month, that cost is $44 billion USD. Still, there are no plans to keep Twitter and Tesla in the same holding company. Part of that could be that they're two very different types of companies providing their own unique services. It could also be that one is trending upwards financially and the other is not.
There's much more analysis to be done from Tesla's Q3 2022 earnings call, so we'll continue to break that down here at Shacknews.