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Source: Dubai – Mr. Muhammad
A tweet on Elon Musk’s social media platform “Twitter” has caused a loss in the market value of his company estimated at around $ 14 billion, according to the British newspaper “Financial Times”.
Musk said on his seven-word Twitter that he believed his company’s shares are valued at a very high price, and after the tweet, the company’s shares began to decline, losing approximately 10% of their value, which caused the aforementioned market value losses.
Musk has around 33 million followers and has a history of bad tweets, which have caused problems for his company previously.
And in 2018, his tweet caused Mask to acquire all of Tesla’s shares and make it wholly private property in a complaint by US money market regulators. USA
The problem eventually resulted in a deal, as Musk promised not to use Twitter in any of the company’s tweets without consulting the company’s legal matters.
It was not immediately known whether Twitter had obtained approval of the company’s legal affairs before it was drafted.
As part of the agreement reached in 2018, Mask retired from the chairmanship of the company’s board of directors for a period of 3 years.
Tesla shares fell approximately 60% after the Corona crisis, before recovering sharply recently, at approximately 120%.
High increases in the company’s shares have caused serious losses to short-selling investors who are betting against the company’s high shares.
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