“Elon Musk Being Elon”
Elon Musk regarded as the most important man in the world can sometimes do really nasty things. If you have been following Elon Musk for a quite a while, you might have noticed his tweeting habits. The man is known for his vision and he is well known for his tweeting habits too. As great as his visions are his tweeting habits are no less. He can sometimes be entertaining. But this time Elon’s Tesla Stocks suffers a loss of 14 billion $ just because of his tweeting habits.
What really happened that led to such a drastic loss for tesla. As usual, Elon used twitter to announce something. In one of the tweets, he said: “Tesla’s stock prices are too high”. Just when this tweet was out Tesla stocks started falling. Investors were selling their stocks. Another tweet that might have lead to more loss was: “I am selling almost all physical possessions. Will own no house.”
I am selling almost all physical possessions. Will own no house.
— Elon Musk (@elonmusk) May 1, 2020
Most of us will ignore these tweets and see as a negative effect of Mr. Musk’s daily habit. But The Securities of Exchange and Commission won’t ignore it. In 2018 Mr. Musk tweeted about that he may have enough funding to turn Tesla into a private asset. But that led to fines on Mr. Musk. They viewed it as a market-moving comment. After all, there is a huge movement in the market after his comments.
This could be a really bad time for Mr. Musk. In this Global Pandemic, all businesses are already in loss and now Mr. Musk has to face this. It is also speculated that these tweets can lead to a lawsuit on Mr. Musk. Thanks for Reading. Stay Safe! Stay Blessed!.
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