Washington: Electric vehicle maker Tesla (Tesla), the company has suffered heavily from a tweet from founder Elon Musk. The company’s shares fell dramatically. The company has suffered billions of dollars 14. In fact, Musk had commented on the price of Tesla shares in his tweet on Friday. This comment was overshadowed by him.
Elon Musk said, “I think Tesla’s stock prices are a bit much.” Soon after, the company’s shares began to fall, closing 14 with a loss of $ billion. Tesla 10 stock prices fell 3 percent after Elon Musk’s tweet on Friday. However, it was later closed with some improvements for $ 701. 32.
Significantly, this decline occurred at a time when the company was doing very well on the stock market. This year the shares had risen 85% due to the increase in production and the appreciation of analysts for the preparation of electric cars. However, Musk’s tweet has brought the company to a standstill in one fell swoop.
Incidentally, this is not the first time that the company’s problems with Elon Musk’s tweet have increased. He tweeted controversially in the past too. Musk was fined $ 1 million by the U.S. Securities and Regulations Commission a few years ago in connection with a tweet. Apart from that, a fraud case against him was also registered.
In August 2018, Tesla boss said in his tweet that Tesla will soon become a private company. After this tweet, a sharp drop in company shares was noted. Musk then signed an agreement with the U.S. Security and Exchange Commission (SEC) in April 2019, asking him to stay away from Twitter. In particular, he was instructed not to tweet about acquisitions, mergers, and new products. However, it does not appear that this instruction had a significant impact on Musk.