Elon Musk’s Tweets Backfire On Tesla Stock Value
(Photo: newsweek.com)
Tesla lands in hot water due to Musk’s tweets
In a series of unfortunate events for Tesla and SpaceX founder, Elon Musk, his recent tweets seem to be lowering Tesla’s stock value. Starting Friday morning, Musk tweeted some questionable tweets including one that says “Tesla stock price is too high imo.”
Tesla stock price is too high imo
— Elon Musk (@elonmusk) May 1, 2020
Musk isn’t only airing his grievances on Twitter and went on a rant during a Tesla earnings conference call on Wednesday against “racist” shelter-in-place orders in the Bay Area that have halted the production for companies including Tesla and SpaceX. Shortly after the call on Wednesday, the Tesla share price rose to $800 and started with the share price on Thursday of $855.70.
By the end of Thursday, the share price dipped $781.88 and continue to drop after Musk’s tweets with the current share value at $714.28. If you think this might be a drastic reaction to a couple of Tweets, Musk continued to tweet after “Now give people back their FREEDOM.”
Musk continues to tweet some crazy statements saying that he is selling his possessions including his house that was once the former home of actor Gene Wilder. He has some conditions on selling his historic house:
(Photo: Twitter)
This isn’t the first crazy stunt pulled by Musk, you may remember when Musk landed in hot water with the Securities and Exchange Commission in 2018 over tweeting he wanted to take Tesla private. Musk later agreed to disclose public statements about Tesla without consulting with his lawyers first and it remains unclear if he chose to consult them for these tweets.
