Tesla’s Stock Plummets Following Musk’s Strange Tweets… Yet Again
Buckle up, because a series of strange tweets from Elon Musk just erased billions of dollars from Tesla’s recent stock gains. After many exciting developments for the automaker this week, which posted surprising earnings for Q1, the pendulum was bound to swing in the other direction. As history tends to repeat itself, the cause was yet again Elon’s lack of a filter.
Starting Friday morning, Musk tweeted that, “Tesla’s stock price is too high.” Following that, he made a series of posts about FREEDOM and lyrics to the American National Anthem. Those are in tune with his controversial comments on lockdown, which has been the source of much contention lately.
Maybe the most wild tweet of the day- though the day is young- was Musk’s stating that he will sell all of his physical possessions, including his house. When this inevitably caught on and went viral, Musk said it was because of his devotion to Mars, and that his Earthly possessions held him back.
Speculation around these antics seems to center around his trolling of Tesla skeptics, as well as the stress surrounding his baby’s Monday due date. This is all coming before Musk’s giant option tranche, which would have seen him make nearly a billion dollars. That is, had the stock stayed around its Thursday height of $855 a share, instead it has dipped below $700, before rebounding slightly at the time of writing.