Investors have a strong opinion on Tesla Inc. TSLA unlike other companies such as LVMH Moët Hennessy Louis Vuitton SE LVMHF or Eli Lilly and Co LLY, former Tesla Investor Relations head Martin Viecha said on Wednesday and company CEO Elon Musk agrees.
What Happened: “One of the great things about speaking with investors about Tesla is that *everyone* has an opinion about this company, often a strong one,” Viecha wrote on X, formerly Twitter.
People, however, do not have such strong opinions on Dior’s parent LVMH, or pharmaceutical company Eli Lilly known for its diabetes and clinical depression drugs, he added.
Musk agreed to Viecha, with a short, “Yeah.”
Possible Reasons For Heightened Interest: LVMH is smaller than Tesla in terms of market capitalization. The company, listed on the Euronext Paris stock exchange, has a market capitalization of less than $400 billion, as compared to Tesla which has a market cap of $690 billion as of last close.
Eli Lilly and Company, meanwhile, has a market cap of $774.24 billion as of its previous close, according to data from Benzinga Pro.
Tesla’s valuation took a hit on Wednesday after the company announced second-quarter EPS below consensus estimates and shrinking profit margins after market close on Tuesday. The stock closed 12.3% lower at $215.99 on Wednesday, removing about $100 billion from its market value.
Further, Tesla, unlike the other two, has a controversial CEO, known as much for his companies as his opinions on political and social matters.
Viecha’s Stint With Tesla: Viecha publicly announced his departure during Tesla’s first-quarter earnings call in April. While he did not specify his departure timeline then, he indicated that he would not participate in the second quarter's earnings call. The executive subsequently left the company in June.
He was replaced by Travis Axelrod.
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