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Friday, January 27, 2023

Musk Become “Technoking of Tesla” in Mysterious Regulatory Filing

Tesla Inc (NASDAQ: TSLA) has included new titles for both CEO Elon Musk and CFO Zachary Kirkhorn in a security filing on Monday. The firm has not revealed the reason behind the mysterious titles in the filing. Tesla named Musk “Technoking of Tesla” and named CFO “Master of Coin”.

Tesla has also disclosed that President of Automotive Jerome Guillen had now provided the new role of President for Tesla Heavy Trucking. The decision of the new president will come into force on March 11. Shares of Tesla Inc rocketed 2.32% as the firm has gained +16.07 during the trading session of Monday.

Tesla has not yet disclosed who will assume the previous role of Jerome. The decision to change in the role has come at a critical time for Tesla. Tesla is now facing competition in the electric vehicle sector as Volkswagen disclosed that it has decided to build six battery factories in Europe.  Earlier, Tesla disclosed that it had bought $1.5 billion of bitcoin and would soon recognize it as a form of payment for cars.

The new titles of the executives could indicate the decision of the executive to utilize some of the cash of Tesla into Bitcoin. The cryptocurrency reached $60,000 over the weekend. TSLA invested in Bitcoin back when Bitcoin was about $33,000. Musk has also revealed earlier that his other favorite cryptocurrency is Dogecoin.

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