Randy Weingarten, chairman of the American Federation of Teachers, is urging top Tesla investors to consider the company's current assessment on behalf of union members.
Weingarten leads one of the largest unions in the country.I wrote a letter on Thursday The reasons for the review are pointing to falling Tesla stock prices, latest financial disclosures, electric vehicle (EV) competition and brand “deterioration.”
“Given the growing concern and the potential material impact on the pension fund portfolio, we appreciate your response detailing Tesla's current assessment and your company's assessment of the steps we are taking to protect our clients and beneficiaries, AFT members.”
The letter was sent to the six asset managers' CEOs, and the Tesla Committee and Elon Musk were copied into the message.
In the letter, Weingarten goes right after Musk and says that it is a big reason why people are losing faith in Tesla.
“According to the American EV Jobs Alliance, EV Swing Consumers are open to EVs, but costs once declined. Last week Stifel analyst Stephen Gengaro declared Tesla's net favor was a record low of 3%, from 9% in January 2024,” Weingarten wrote.
Weingarten, who represents 1.8 million education, healthcare and public sector workers, says her members have an estimated $4 trillion in retirement security assets.
“All workers deserve a safe retirement. Just this week, Tesla stocks continue to sink faster than Quixand's CyberTruck. So we are asking asset managers to honestly look at their investments in Tesla,” Weingarten wrote on the social media platform Bluesky.
Weingarten is known for her defense of democratic platforms, revealing her opposition to many of the Trump administration's actions.
Recently, her union sued the Ministry of Education with a letter from “dear colleagues” who told K-12 and higher education schools to remove their diversity, equity and inclusion programs.
