Menu

Elon Musk Brings Down Tesla’s Stocks With His Tweets

Elon Musk has been known to play risky with his public image. Despite being one of the biggest entrepreneurs the world has seen, the Tesla boss has constantly made controversial statements that bring down his glory.

His recent string of tweets might just see him losing his job altogether. This will not be good news for him. The board of the carmaker as well as the US Securities and Exchange Commission (SEC) might not have taken too kindly.

The latest storm has caused some big loss to Tesla. This time it might be beyond redemption. What his tweets were and what’s the amount of loss, let’s find out.

Know More – Female Biology And Its Differences – Minerals Behind Heart Valve Blockage

Elon Musk Brings Down Tesla's Stocks With His Tweets

WHAT DID ELON MUSK SAY?

Musk put out a Tweet saying that Tesla had “too high” stock. This led to Tesla losing $14 billion worth of its market value. It also led to a personal loss to the stake of Musk by $3 billion.

The market valuation of Tesla was at $141 billion before his tweet which came down to 127. This was seen with a great deal of surprise by Twitter users who couldn’t comprehend why Musk would attempt this thing.

One Twitter user asked – “Are you doing it because you need the cash or is this to protest the world burning down?”

Musk replied – “Don’t need the cash. Devoting myself to Mars and Earth. Possession just weigh you down.”

Elon Musk Brings Down Tesla's Stocks With His Tweets

Know More – Akon To Power City In Western Kenya With His Cryptocurrency

Elon Musk is supposed to seek pre-approval for his tweets talk about the companies securities, including his acquisition or disposition of shares, nonpublic legal or regulatory findings or any decisions.

While this will certainly be bad news for Musk who has constantly shocked the world with his new projects, his behaviour on social media needs to be kept in check. He can’t unleash himself like there are no other stakeholders. The future of Elon Musk will certainly be interesting to observe.

Leave a Reply

Your email address will not be published. Required fields are marked *

Rhythm Bhatia

Rhythm Bhatia

Ask us,
learn more

Share your Feedback/Query with us and our team will get in touch with you within 2 business Days.

tell us a bit more.