Last updated May 2, 2020
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The electric car maker Tesla lost up to $ 14 billion in market value due to a strange series of tweets that the company’s founder Elon Musk tweeted, including a tweet claiming that the company’s share price was too high, and another says that He will sell almost all of his material possessions.
Tesla’s declining market value caused Elon Musk to lose $ 3 billion, and that comes just a few days after the company announced strong financial results despite the halt in manufacturing due to the virus, which contributed to the stock price rise, which immediately fell after Musk’s tweets accordingly. To sell millions of shares in minutes.
Tesla CEO used the Twitter platform to promote his views that the emerging epidemic of the Corona virus is not as bad as being portrayed in the media, as well as talking about his opinion that the United States should begin to stop staying at home, which he describes as house arrest and in violation of constitutional rights.
A tweet posted by Mask in August of 2018 about Tesla’s future fined him $ 20 million, as the tweet said he had received funding to convert Tesla to a private company, which led the US Securities and Exchange Commission to file a fraud case against him.
At that time, he agreed to display all tweets containing important information about the company to the legal advisor before posting it to the platform, and a federal judge said in early April: Tesla and Musk should face a lawsuit from the shareholders regarding that tweet, which included the allegation that Musk intends to defraud them. .
Tesla stock price is too high imo
– Elon Musk (@elonmusk) May 1, 2020
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