- Tram Ho
According to CNN, on May 1, billionaire Elon Musk – founder of Tesla electric car group – posted a tweet on the content that Tesla shares are overvalued. Shortly thereafter, this group’s stock plummeted about 10%, closing at $ 701.32.
Falling stocks also blew away $ 14 billion of Tesla. In particular, Musk lost $ 3 billion, equivalent to the number of shares he owns.
This is not the first time billionaire Elon Musk has been troubled by social media statements about his company’s stock.
The Tweet caused Tesla shares to plummet on May 1. (Image: Bloomberg)
In 2018, the owner of SpaceX, an aerospace company, tweeted that he would turn Tesla into a private company by buying all the shares. This has made the company’s stock price volatile.
For this action, the US Securities and Exchange Commission (SEC) fined Elon Musk and Tesla each $ 20 million for spreading news to the market. At the same time, the head of Tesla is prohibited from making similar statements and needs to be approved by the company council.
Billionaire Elon Musk. (Photo: Theverge)
In 2019, during the second trading session (December 23), when the company’s stock exceeded $ 420, Musk continued to joke about Tesla’s stock becoming very high.
In 2017, Tesla CEO Elon Musk also told investors over and over again that Tesla’s stock prices are “crazy” because of current performance.
At an event in London (UK) in 2013, Mr. Elon Musk told people: ” Our share price is higher than we deserved .”
These statements annoy many shareholders of Tesla.
Source : Genk