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Elon Musk Admits Challenges Running Businesses as Tesla Shares Decline

Tesla's stock plummeted by more than 15 percent, marking its worst trading day since September 2020, with shares closing at $222.15 on Monday. Elon Musk expressed challenges in managing his businesses and asserted that 'it will be fine long-term,' despite Tesla's declining performance. CFO Vaibhav Taneja and Chairperson Robyn Denholm have offloaded millions in Tesla stock, sparking concerns about the company's future. Roughly $800 billion has been erased from Tesla's value since its peak of $479.86, causing it to lose its trillion-dollar status last month.