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Tesla shares on Friday lost more than 10% of their value after founder and main individual shareholder Elon Musk tweeted that the electric car maker’s titles were overpriced.
At the close of the markets in New York, Tesla shares lost $ 80.56, 10.3% of their value, and stood at $ 701.32.
“The value of Tesla’s shares is too high, IMHO,” wrote Musk, 48, who controls about 20% of the manufacturer’s stocks.
The tweet was preceded and followed by other unusual messages such as: “I am selling almost all (my) physical possessions. I will not own a home, ”or parts of the United States national anthem.
Speaking to “The Wall Street Journal” newspaper, Musk, who is known for his outlandish behavior and controversial, sometimes insulting comments, said he was not joking.
Despite Friday’s sharp decline, Tesla shares have revalued 70% year-to-date.
For its part, Wall Street closed this Friday in red, with its main indicator, the Dow Jones industrials with a loss of 2.55%, in a day in which the results of the big technology did not fully convince investors and out of a new fear that the United States and China will unearth the hatchet again.
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At the end of the operations on the New York Stock Exchange, the Dow Jones fell 622.03 points and stood at 23,723.69 points, dragged down by the generalized losses of the 30 large companies that make it up, with the exception of Walmart (1 , 13%).
The selective S&P 500 fell 2.81% or 81.72 points, to 2,830.71 integers; and the Nasdaq composite market index, which brings together the main technology companies, suffered the worst results, with a decline of 3.20% or 284.60 points, to 8,604.95 points.
Apple fell 1.61% and Amazon 7.6% after announcing that it will use all of its second quarter benefits in response to the coronavirus.
The bad start of the park in the month of May, contrasts with the abundant month of April, in which the Dow, with accumulated gains of 10.5% and the S&P with others of 12%, marked their best monthly results in decades .
Likewise, the fear that tensions between Washington and Beijing will re-emerge also weighed on investors today.
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The White House economic adviser, Larry Kudlow, assured that the Chinese will answer for what happened with the coronavirus.
“There is no question about this. How, where, when and why (they are questions) that I am going to leave in the hands of the president, ”Kudlow said in remarks to CNBC channel.
The Texas Intermediate Oil Price (WTI) saw a further hike of 4.99% today and closed at $ 19.78 a barrel, thus breaking a three-week negative streak, this time motivated by lower US inventories rises. than planned and the start of the cuts agreed by the Organization of Petroleum Exporting Countries (OPEC) and its partners.
In other markets, gold rose to $ 1,709.50 an ounce, and the dollar lost ground against the euro, with a change of 1,098.
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