Tesla rebounds after Musk recommends employees keep their shares
Tesla TSLA.O climbing from recent lows for a third straight day on Fri after CEO Elon Musk held a livestreamed "all hands" meeting with employees and told them to "hold onto your stock"
Stock last up 4.5%, cutting this week's decline to ~1%
TSLA on Thursday recalled over 46,000 Cybertrucks built from November 2023 to February 2024, marking the eighth recall for the model since January 2024
At the all-hands meeting late on Thursday, Musk focused on previously promised future products including autonomous taxis and humanoid robots, saying, "the future of Tesla is incredibly bright"
Shares of TSLA have tumbled in recent months, with the co's brand suffering from Musk's participation in the Trump administration
TSLA down ~50% below 52-week intraday high of $488.54 reached on December 18, 2024
Stock recently traded at 81x expected earnings, below 5-year avg forward PE of 90, per LSEG data
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