Elon Musk endorsed the upward run of GameStop Stocks, which was highly discussed on Reddit's thread. The billionaire just had to say one word to attract investors towards the video game retailer's stock. It has been confusing because the majority of the players have been downloading the games instead of purchasing at the stores.
Indicating a drastic change in the sales strategy, Tesla is moving all its sales online.
The primary reason that comes in the mind for this move is to bring a cheaper Model 3 to the market.
This move surely implies that some layoffs and closure of stores are on the way.
Stating that some stores would change into information stores, Elon Musk indicated that not all stores would shut down.
Having said that, no exact information has been captured as to the number of stores to go under the hammer of closing.
Speaking about the move Elon Musk was of the view that, ”We will be closing some stores and that will be some reduction in headcount as a result.
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