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Fortune

Christiaan Hetzner

Tesla investors took a licking this year thanks to Elon’s disastrous Twitter bid—2023 may deliver the knockout blow

Elon Musk Twitter Inc. United States China Christian Marquardt Dave Chapelle Leo KoGuan Matthias Schmidt Europe

Tesla CEO Elon Musk speaks during the official opening of the new Tesla electric car manufacturing plant in Berlin (Credit: Christian Marquardt - Pool/Getty Images)

Tesla investors will be glad to finally see the back of 2022.

The value of Elon Musk’s company fell twice as much as the broader tech-heavy Nasdaq, decoupling itself entirely from the continued strength of its underlying car business. In comparison to the bruised and battered stock, the company is expected to enter January with yet another annual sales record under its belt.

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