Elon Musk Says Tesla’s Stock Price Is “Too High”, Prompting 13% Drop

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Elon Musk occurred to Twitter on Friday a week to say Tesla’s share price is “too high”, prompting the automobile maker ’s shares.

On Friday, Musk ldquo & stated;Tesla stock cost is too higher imo,” before adding he intends to sell “nearly all physical possessions. ” While it’s not uncommon for Musk to ‘proceed ’ around Twitter, this announcement shocked investors and sent shares falling by as much as 13 per cent, settling at $701.32 at close on Friday.

This ended a tumultuous week for Tesla that began on Wednesday when Musk veered off-script during an earnings call where he slipped against shutdown requests across the United States, Business Insider reports.

Read Also: Musk Calls Coronavirus Restrictions “Fascist”, Wants People To Get Back “Their Goddamn Freedom”

Tesla stock price is too Large imo

— Elon Musk (@elonmusk) May 1, 2020

“Frankly, I would call it forcible imprisoning against all their inherent rightshe said. “Its breaking people’s freedoms in a way which are wrong and horrible and they came into America or built this country. What the . Excuse me. Outrage. Outrage. ”

Musk most famously tweeted out in August 2018 he had the “funds rdquo & procured; to shoot Tesla private at $420 an talk. That quickly prompted an evaluation from the Securities and Exchange Commission and saw Musk and Tesla both fined $20 million each. Additionally, Tesla has been forced to set a committee to oversee Musk’therefore tweets, particularly those that can have a material impact on the company’s discuss cost.

Claiming Tesla’s “stock cost is too high” has achieved influenced the company’therefore shares. It was seen should Musk’s tweets were checked before being submitted and we wouldn’t be surprised when the SEC comes sniffing…

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