Tesla is in a highly competitive electric car market. It has no chief operating officer. And CEO Elon Musk was already busy juggling leadership roles at SpaceX, The Boring Company and Neuralink before he launched an unsolicited takeover offer for Twitter. That's a lot of distractions. And it may be one too many for Tesla investors.
Tesla's stock fell nearly 4% Thursday after Musk disclosed that he had made a more than $41 billion bid to buy Twitter. Shares of Tesla did rise a bit Monday but they are still down 6% so far in 2022.
The good news (if you want to call it that) for Tesla shareholders is that the stock is not off nearly as much as traditional automotive rivals GM, Ford and Chrysler owner Stellantis. Shares of Detroit's Big Three have each plunged more than 20% this year.
Tesla was not immediately available for comment about whether Musk's pursuit of Twitter could take away from his focus on Tesla. But the company, to its credit, has managed to thrive in spite of the often circus-like atmosphere surrounding Musk.
To that end, Tesla is expected to report an earnings-per-share increase of nearly 145% from a year ago when it releases first quarter results on Wednesday. Analysts are forecasting a more than 70% jump in sales thanks to strong global demand for the company's Model S, X, 3 and Y vehicles.
Still, all of the major US auto companies are gunning for Tesla, as are leading European and Asian car companies.
"Elon Musk's offer to buy Twitter is the latest development in a weeks-long saga that is simply a distraction from the many challenges facing Tesla itself," said David Trainer, CEO of New Constructs, an investment research firm, in an email.
"Elon Musk should focus on Tesla and not waste time attempting to acquire and manage [Twitter]," Trainer added."Tesla is facing significant competition in the electric vehicle space. The major automakers are catching up and are manufacturing innovative electric vehicles."
There's also the growing threat from newer EV rivals like Rivian and Lucid in the United States as well as Nio, Xpeng and Li Auto in China.
With competition around the globe increasing, one would think that Musk would want to prioritize Tesla instead of tilting at the social media windmill that is Twitter.
Musk's perhaps quixotic attempt to take over Twitter and mold it into what he claims would be a platform that better supports free speech could also make some prominent companies reluctant to spend money on a Musk-led Twitter.
"As Musk has displayed his thirst to change Twitter mainly with regard to content moderation, some large brands may become hesitant to place ads next to what they consider may be more questionable content," said Morningstar's Ali Mogharabi in a report.
Why would that matter to Tesla? It seems reasonable to wonder whether a backlash against Musk over his Twitter behavior could make more affluent, liberal car buyers think twice about buying a Tesla in the future.
But perhaps the biggest risk for Tesla as a result of any further Twitter dalliances is that the company can ill-afford any more issues that keep Musk from focusing on Tesla.
Unlike SpaceX, which has long-time president and COO Gwynne Shotwell to manage the day to day business, Tesla has long lacked a clear-cut No. 2 exec.
Several top managers have left Tesla in recent years, including last year's departure of key automotive executive Jerome Guillen. Tesla's management bench is now embarrassingly thin.
The only other two top executives listed on the company's investor relations site are senior vice president Andrew "Drew" Baglino, who oversees engineering, and the so-called "Master of Coin" (aka chief financial officer) Zachary Kirkhorn.
So if Musk is serious about adding Twitter to his massive financial empire, it might be a good idea for Tesla to make it clear to Wall Street just who would be calling the shots there.
There are only so many hours in the day, which means that if Musk feels the need to pay more attention to fixing the little blue bird, he'd be thinking less about how to make cool new cars and trucks.
Canadian musician Jacob Hoggard has been found not guilty of sexually assaulting a young woman in northeastern Ontario eight years ago. The former Hedley frontman had pleaded not guilty to sexual assault.
Police have arrested a Toronto woman in connection with three recent homicides and investigators say that they believe two of the victims may have been 'randomly targeted.'
The body of a British Columbia mountain climber has been located and recovered after the 39-year-old man was reported missing during a solo climb on Washington state's Mount Baker earlier this week.
An Ontario child died last month after coming into contact with a rabid bat in their bedroom, which was the first known human rabies case in Canada since 2019.
A French judge in the trial of dozens of men accused of raping an unconscious woman whose now former husband had repeatedly drugged her so that he and others could assault her decided on Friday to allow the public to see some of the video recordings of the alleged rapes.
A judge ripped into a Colorado county clerk for her crimes and lies before sentencing her Thursday to nine years behind bars for a data-breach scheme spawned from the rampant false claims about voting machine fraud in the 2020 presidential race.
You might be thinking, 'Shut up!' but it’s officially true: the 'Princess Diaries' franchise is finally growing.
A teen charged with the murder of another teen on Prince Edward Island last year has pleaded guilty to a lesser charge of manslaughter.
A Saskatchewan man living in the United States has pleaded guilty to possessing child pornography after he unknowingly provided disturbing videos to an FBI agent he thought was a pedophile.
Police have arrested a Toronto woman in connection with three recent homicides and investigators say that they believe two of the victims may have been 'randomly targeted.'
The body of a British Columbia mountain climber has been located and recovered after the 39-year-old man was reported missing during a solo climb on Washington state's Mount Baker earlier this week.
A Saskatchewan man living in the United States has pleaded guilty to possessing child pornography after he unknowingly provided disturbing videos to an FBI agent he thought was a pedophile.
Melissa Duff-Shore, a Cambridge, Ont. woman who killed her daughter in 2020, has been ordered to a forensic hospital in St. Thomas.
Canadian musician Jacob Hoggard has been found not guilty of sexually assaulting a young woman in northeastern Ontario eight years ago. The former Hedley frontman had pleaded not guilty to sexual assault.
A northeastern Ontario jury has started deliberating in Canadian musician Jacob Hoggard's sexual assault trial, we can now tell you what they weren't allowed to hear.
A rural Colorado county courthouse beefed up security Friday after threats were made against staff and a judge who sentenced former county clerk Tina Peters to nearly nine years behind bars for her role in a data breach scheme catalyzed by the lie that the 2020 election was stolen from former President Donald Trump.
Oklahoma's top education official is seeking to purchase 55,000 Bibles for public schools and specifying that each copy contain the Declaration of Independence and U.S. Constitution, which are not commonly found in Bibles but are included in one endorsed by former President Donald Trump.
A French judge in the trial of dozens of men accused of raping an unconscious woman whose now former husband had repeatedly drugged her so that he and others could assault her decided on Friday to allow the public to see some of the video recordings of the alleged rapes.
A judge ripped into a Colorado county clerk for her crimes and lies before sentencing her Thursday to nine years behind bars for a data-breach scheme spawned from the rampant false claims about voting machine fraud in the 2020 presidential race.
The U.S. and British militaries struck more than a dozen Houthi targets in Yemen on Friday, going after weapons systems, bases and other equipment belonging to the Iranian-backed rebels, U.S. officials confirmed.
The fallout from storm damage to a North Carolina factory that makes critical hospital supplies will be felt broadly and could linger, experts say.
NDP House leader Peter Julian says there's more his party wants to do in Parliament before the next election, but if the current dysfunction continues it will become a factor in how they vote on a confidence measure.
Prime Minister Justin Trudeau is set to announce funding to support French-speaking African countries and initiatives to promote the French language in the Francophonie.
Defence Minister Bill Blair says Israel has the right to defend itself in 'a calibrated and proportional way' following Iran’s ballistic missile attack against Israel on Tuesday.
An Ontario child died last month after coming into contact with a rabid bat in their bedroom, which was the first known human rabies case in Canada since 2019.
When an Ontario doctor refused to sign off on a mammogram for 38-year-old Sidra Lone, the mother of four says she was left with no choice but to lie.
The recent rabies-related death in Ontario has raised concerns about human exposure, but an assistant professor at the University of Guelph says we can learn a lot from the health of bat populations.
Scientists announced on Thursday a milestone in neurobiological research with the mapping of the entire brain of an adult fruit fly, a feat that may provide insight into brains across the animal kingdom, including people.
For humans, flashing a smile is an easy way to avoid misunderstanding. And, according to a new study, bottlenose dolphins may use a similar tactic while playing with each other.
Alphabet's Google is testing showing check marks next to certain companies on its search results, a company spokesperson said on Friday, in a move aimed at helping users identify verified sources and steer clear of fake websites.
You might be thinking, 'Shut up!' but it’s officially true: the 'Princess Diaries' franchise is finally growing.
Legendary singer Paul Simon has said he is 'optimistic' about being able to return to performing live after losing most of his hearing in his left ear.
The jury tasked with determining if Canadian musician Jacob Hoggard sexually assaulted a young woman in northeastern Ontario eight years ago began deliberating Friday after nearly two weeks of testimony that saw the singer and his accuser give starkly different accounts of what happened.
Brazil's Supreme Court said on Friday that lawyers representing social media platform X did not pay pending fines to the right bank, postponing its decision on whether to allow the tech firm to resume services in Brazil.
Canada's airlines have failed in their challenge of air passenger protection rules that the federal government implemented in 2019.
The Vatican Bank has fired two employees whose recent wedding violates a newly-introduced ban on marriages between staff.
A five-seat sushi counter located inside another restaurant is the latest Vancouver eatery to receive a Michelin star.
Toilet paper shortages in stores across America are giving folks nightmarish reminders of the pandemic era. But the lack of toilet paper isn’t a direct result of a major port strike Tuesday. It’s because of panic buying.
What does New Westminster's təməsew̓txʷ Aquatic and Community Centre have in common with a historic 68,000-seat stadium in Beijing, an NFL stadium and the aquatics venue for the Paris Olympics? They've all been named among the world's most beautiful sports venues for 2024.
Paul Pogba has had his four-year ban for doping reduced to 18 months after appealing to the Court of Arbitration for Sport.
The NFL saw its fewest number of concussions in the preseason since tracking started in 2015.
Caitlin Clark has been named the WNBA Rookie of the Year in a near-unanimous vote, giving the Indiana Fever back-to-back winners after Aliyah Boston won the honour last season.
Tesla is recalling more than 27,000 Cybertrucks because the rearview camera image may not activate immediately after shifting into reverse, the fifth recall for the vehicle since it went on sale late last year.
A Pickering, Ont., student going to college to be a mechanic is shocked the engine in his two-year-old car will not be repaired under warranty after the dealership claimed he had been 'over-revving' the engine.
A group of classic car enthusiasts donated hundreds of blankets to nursing homes in Nova Scotia.
Chantal Kreviazuk is set to return to Winnipeg to mark a major milestone in her illustrious musical career.
From the beaches of Cannes to the bustling streets of New York City, a new film by a trio of Manitoba directors has toured the international film festival circuit to much pomp and circumstance.
A husband and wife have been on the road trip of a lifetime and have decided to stop in Saskatchewan for the winter.
The grave of a previously unknown Canadian soldier has been identified as a man from Hayfield, Man. who fought in the First World War.
A group of classic car enthusiasts donated hundreds of blankets to nursing homes in Nova Scotia.
Moving into the second week of October, the eastern half of Canada can expect some brisker fall air to break down from the north
What does New Westminster's təməsew̓txʷ Aquatic and Community Centre have in common with a historic 68,000-seat stadium in Beijing, an NFL stadium and the aquatics venue for the Paris Olympics? They've all been named among the world's most beautiful sports venues for 2024.
The last living member of the legendary Vancouver Asahi baseball team, Kaye Kaminishi, died on Saturday, Sept. 28, surrounded by family. He was 102 years old.
New data from Greater Vancouver and the Fraser Valley shows a surge in supply and drop in demand in the region's historically hot real estate market.
Chayton Point loved to dance. Just ask his mom.
As the provincial election campaign reaches the halfway mark, the party leaders made pitches to voters on bread-and-butter issues: housing, child care and jobs.
Vancouver police have deployed extra resources in anticipation of multiple protests planned for Oct. 7.
Police have arrested a Toronto woman in connection with three recent homicides and investigators say that they believe two of the victims may have been 'randomly targeted.'
Canadian musician Jacob Hoggard has been found not guilty of sexually assaulting a young woman in northeastern Ontario eight years ago. The former Hedley frontman had pleaded not guilty to sexual assault.
Toronto Public Health has confirmed two cases of listeria in the city believed to be connected to ready-to-eat deli meat products sold by Summerhill Market.
Three Calgary businesses have been ordered to shut down after inspectors discovered evidence of uninspected meat.
A pedestrian is in critical condition after being struck by a vehicle in southeast Calgary on Friday night.
Alberta Health Services (AHS) says it is taking immediate action to expedite care for patients who had referrals to community health-care providers delayed.
The owner of a Gatineau, Que. café says it's 'silly' that Quebec's language watchdog is telling the business to write its Instagram posts in French.
Gas prices in Ottawa are set to rise this weekend after a slight uptick overnight.
Canadian musician Jacob Hoggard has been found not guilty of sexually assaulting a young woman in northeastern Ontario eight years ago. The former Hedley frontman had pleaded not guilty to sexual assault.
At least two people are dead and others are injured after a fire ripped through a century-old building in Old Montreal early Friday morning, sources told Noovo Info.
The owner of a Gatineau, Que. café says it's 'silly' that Quebec's language watchdog is telling the business to write its Instagram posts in French.
A 28-year-old female driver was seriously injured in a three-vehicle collision Friday afternoon in Saint-Rémi, Montérégie, reports the Sûreté du Québec (SQ).
A 79-year-old woman is dead after the vehicle she was driving crashed into an east Edmonton building late Friday afternoon.
A letter from Edmonton's mayor to the Alberta government detailing the city's fiscal wishlist ahead of next year's budget calls for fair treatment for the capital city, something several city councillors say isn't already happening.
A new docu-series that reveals what life is like for National Hockey League players on and off the ice during the playoffs is now out.
A teen charged with the murder of another teen on Prince Edward Island last year has pleaded guilty to a lesser charge of manslaughter.
The federal Fisheries Department says it is concerned about a "pattern" of violence and threats toward its enforcement officers after two tense incidents off southwestern Nova Scotia last month.
Friday marked the grand opening of 22 new seniors' apartments built from the ground-up on Pitt Street in Sydney Mines, N.S.
Brady Oliveira and the Winnipeg Blue Bombers continue to roll along. Oliveira ran for a season-high 147 yards and a touchdown to power Winnipeg past the Hamilton Tiger-Cats 31-10 on Friday night.
A new report from Doctors Manitoba is calling for major changes to the way sick notes are issued in Manitoba, saying they are a waste of time for doctors and employers.
With winter right around the corner, thousands of feathered friends are flying south. New technology in Assiniboine Park is helping researchers around the world unlock the mysteries of this migration.
A Saskatchewan man living in the United States has pleaded guilty to possessing child pornography after he unknowingly provided disturbing videos to an FBI agent he thought was a pedophile.
A group of climate activists is challenging SaskPower's move towards natural gas, arguing it violates their Charter rights.
Regina kids facing mobility issues were gifted toy cars through the Go Baby Go program.
Police have laid charges after a car crashed into the side of a Kitchener home early Friday morning.
The K-W Symphony may have played their last concert but the musicians who made up the ensemble aren’t ready for their curtain call.
Melissa Duff-Shore, a Cambridge, Ont. woman who killed her daughter in 2020, has been ordered to a forensic hospital in St. Thomas.
The Saskatchewan Teachers' Federation hosted a virtual election forum on education Thursday evening, giving candidates in the provincial election a chance to share their thoughts and answer questions on issues teachers find most important.
A Saskatchewan man living in the United States has pleaded guilty to possessing child pornography after he unknowingly provided disturbing videos to an FBI agent he thought was a pedophile.
Saskatoon police arrested a homeless person at the scene of an encampment underneath the University Bridge on Friday morning.
Canadian musician Jacob Hoggard has been found not guilty of sexually assaulting a young woman in northeastern Ontario eight years ago. The former Hedley frontman had pleaded not guilty to sexual assault.
Two police officers in Greater Sudbury required medical attention for injuries they received arresting a man for the second time in just two days.
Police have arrested a Toronto woman in connection with three recent homicides and investigators say that they believe two of the victims may have been 'randomly targeted.'
The Ministry of Labour is investigating a workplace incident that claimed the lives of two people in Georgian Bluffs, south of Owen Sound.
Eleven victim impact statements were submitted into court during the proceedings.
Middlesex OPP have shuttered a road between Mount Brydges and Komoka today - Amiens Road is currently closed between Glendon Drive and Oriole Drive.
A woman whose son died last month while at a Penetanguishene, Ont. beach with another family member wants to see safety increased at the beach.
The Ministry of Labour is investigating a workplace incident that claimed the lives of two people in Georgian Bluffs, south of Owen Sound.
Provincial police are investigating a collision along Highway 400 in Tay Township Friday afternoon.
A London, Ont. man, who pleaded guilty earlier this year in a harassment case, has been sentenced to two months in jail for criminal harassment of a Windsor, Ont. family.
Hike Metal has added more security since a $20,000 ship propeller was stolen, while Crime Stoppers is still looking for tips on possible suspects
The City of Windsor is on the right path to adding much needed housing inventory to the stock, according to city officials.
We haven't heard the candidates talk much about education during B.C.'s 2024 election campaign, but the teachers' union is trying to put the spotlight on that issue.
The body of a British Columbia mountain climber has been located and recovered after the 39-year-old man was reported missing during a solo climb on Washington state's Mount Baker earlier this week.
Many British Columbians were shaken awake early Friday morning when an earthquake struck in the Strait of Georgia, about 18 kilometres southwest of Tsawwassen.
Three young suspects have been arrested in connection with a swarming attack on a teenager in B.C.'s Okanagan last week – and authorities have asked the public to stop circulating disturbing videos of the incident.
A father in Kelowna is furious after his 13-year-old daughter was brutally beaten on Gyro Beach. He is calling for criminal charges in the devastating attack, which was caught on video by multiple bystanders.
The officer who shot and killed a forcible confinement suspect in Kamloops two years ago was justified in doing so, according to the Independent Investigations Office of B.C.
A person was airlifted to hospital following a serious crash in Taber, Alta., on Friday morning. Taber RCMP responded to the scene on Highway 864 around 10:30 a.m., for a crash involving an SUV and a semi-truck.
To enhance inclusivity at Lethbridge Polytechnic, the institution has launched a new accessibility micro-credential.
WestJet has changed its operations at the Lethbridge Airport, and it means there's now only a single daily flight from Lethbridge to Calgary, down from three flights a day, as offered previously.
Two teens, ages 14 and 19, have been charged with arson in connection with a July 14 fire in Cat Lake First Nation that destroyed $500,000 in construction materials.
A northeastern Ontario jury has started deliberating in Canadian musician Jacob Hoggard's sexual assault trial, we can now tell you what they weren't allowed to hear.
A suspect who accused Thunder Bay police of being responsible for his throat injury actually hurt himself when he swallowed a large amount of drugs.
He may not have logged the fastest time or even gone the full distance, but residents of a Newfoundland town agree the goat who unexpectedly joined the local weekend half marathon was the event's undisputed champion.
A mother in a community where the cost of living is one of the highest in the country says grocery prices are 'inhumane' and retailers are putting profits ahead of people’s basic human right to food.
A soccer game in England on Tuesday night drove a spike in online traffic across the Atlantic to a website launched by the Newfoundland and Labrador government.
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