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Fortune

Stuart Dyos

A teacher’s union calls for Larry Fink’s BlackRock and other CEOs to check on Tesla as the stock sinks ‘faster than a Cybertruck in quicksand’

Tesla Inc. Larry Fink Randi Weingarten BlackRock Elon Musk the American Federation of Teachers American Federation of Teachers AFT

President of the American Federation of Teachers Randi Weingarten speaks at the 2024 Democratic Convention (Credit: David Paul Morris—Bloomberg/Getty Images)

The 1.8 million-member American Federation of Teachers is taking on Elon Musk and demanding a review of Tesla’s valuation by the company’s six largest institutional investors. In an effort to safeguard its members’ retirement assets, AFT head Randi Weingarten reached out to Blackrock CEO Larry Fink among others because Tesla’s latest financial disclosures “should raise alarms,” she wrote in a letter. Weingarten cited sales slips in Europe and California and heightened competition in the EV market.

The American Federation of Teachers, one of the country’s largest labor unions, is tightening the screws on Tesla CEO Elon Musk by reaching out to BlackRock CEO Larry Fink, among other asset-manager chiefs, and calling for a review of Tesla’s valuation, DealBook first reported.

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