TMTPOST -- Elon Musk has called on Tesla employees to "hang on" to their shares during a company-wide meeting addressing concerns over the electric carmaker's declining share price and recent arson attacks on its showrooms and vehicles. In an unannounced "all hands" gathering, the billionaire acknowledged that recent media coverage of Tesla felt "like Armageddon" but reassured staff that the company's long-term prospects remain strong. Tesla's share price has plummeted by 37% this year, reducing its market capitalization from approximately $1.2 trillion (£930 billion) to $740 billion in less than three months. The downturn has been partly attributed to warnings that Musk's vocal support for Donald Trump and his involvement in the former US president's new government efficiency initiative, known as Doge, has alienated some customers. The backlash against Musk has also led to violent protests targeting Tesla dealerships, prompting an FBI investigation. Despite these challenges, Musk remains optimistic about Tesla's future and has urged employees to remain steadfast in their commitment to the company.