Elon Musk Says “Tesla Stock Price Is Too High,” Shares Fall Immediately

No, Elon Musk isn’t an alien as some may believe he is. Born in South Africa in 1971 to a model and dietitian mother as well as an engineer and pilot father, the chief exec of Tesla may lead you into believing he’s come from space due to his quirky personality.
Elon Musk tweet on May 1st, 2020 13 photos
Photo: Elon Musk on Twitter
Tesla stock price on May 1st, 2020Tesla stock price on May 1st, 2020Elon Musk tweet on May 1st, 2020Elon Musk tweet on May 1st, 20202020 Tesla Model Y Performance (Tesla number 1,000,000)2020 Tesla Model Y Performance (Tesla number 1,000,000)Tesla Model Y interiorTesla Model Y interiorTesla Model Y interiorTesla Model Y interiorTesla Model Y interiorTesla Model Y interior
One such quirk is his love-hate-and-utterly-weird relationship with Twitter, the platform that Musk uses the most to make his thoughts known. A peculiar tweet on August 7th, 2018 got Elon into trouble for two reasons. Let’s go through them, one by one.

First and foremost,am considering taking Tesla private at $420 is a reference to 420 Blaze It. And secondly, ending the tweet with “funding secured” forced the Musk Man out as Tesla chairman in addition to a $20 million fine for pretty obvious reasons.

After this high-profile fiasco, Musk agreed to have his tweets reviewed by the automaker’s in-house counsel before publishing. Having set the stage for the main subject, care to guess what Elon tweeted about today? Well, he started by saying “Tesla stock price is too high” and “give people back their freedom.”

The consequence of these two messages and subsequent tweets such as “my girlfriend is mad at me” and “am selling almost all physical possessions” is that Tesla’s capitalization is taking a nosedive.

A simple search on Google for Tesla’s stock price reveals that the day started at $755 then fell to $687 at noon. At the time of reporting, Tesla is hovering at around $710 per share. The question is, why is Elon Musk doing this without consideration to the company he’s leading and the jobs at stake?

Elon’s Twitter mumbo-jumbo has stumbled Tesla stock by more than 10 percent at the time of reporting, reducing the company’s value by almost $9 billion. But wait, that's not the end of it!

Two days ago, the head honcho also tweetedfree America now even though everyone knows the U.S. is the land of the free and the home of the brave. While there’s no denying that Americans want to get back to normal life instead of staying put, it’s important to remember that Musk has downplayed the scope of the health crisis.

As a refresher, Musk tweeted back in March 2020 that he expects “probably close to zero new cases by the end of April." To date, 1,114,200 cases and 65,000 deaths have been reported in the U.S.

If you liked the article, please follow us:  Google News icon Google News Youtube Instagram Twitter
About the author: Mircea Panait
Mircea Panait profile photo

After a 1:43 scale model of a Ferrari 250 GTO sparked Mircea's interest for cars when he was a kid, an early internship at Top Gear sealed his career path. He's most interested in muscle cars and American trucks, but he takes a passing interest in quirky kei cars as well.
Full profile


Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories