Tesla stock plunges after Musk tweets “Tesla stock price is too high”
Musk tweeted that he is “selling almost all physical possessions.” …
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Tesla’s stock is down sharply in Friday trading. One likely reason for that: CEO Elon Musk tweeted that “Tesla stock price is too high imo.”
Musk posted that tweet at 11:11am Eastern time. At the time, Tesla’s stock was worth around $760—down less than 3 percent from Thursday’s closing price of $781.
By 11:30, the stock plunged to $722, a 5 percent fall in 19 minutes. It has since fallen further to around $710—about 9 percent lower than Thursday’s closing price. The broader stock market is down less than 3 percent today.
Musk has long been known for his colorful and sometimes controversial Twitter presence. One 2018 tweet even got Musk in trouble with the Securities and Exchange Commission, while another made Musk the target of an unsuccessful libel lawsuit. But this week, Musk has been unusually provocative on Twitter—even by his own standards.
Possessions just weigh you down
In a series of Wednesday tweets, Musk praised states that were lifting some public health restrictions, calling for officials to “give people their freedom back!”
“FREE AMERICA NOW,” he wrote in another tweet.
He returned to those themes during Tesla’s Wednesday afternoon earnings call.
“If somebody wants to stay in their house, that’s great. They should be allowed to stay in their house and should not be compelled to leave,” Musk said. “But to say that they cannot leave their house, and they will be arrested if they do, this is fascist, this is not democratic, this is not freedom. Give
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