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Electric car maker Tesla lost as much as $ 14 billion in market value due to a bizarre series of tweets that company founder Elon Musk tweeted, including Tweet She claims that the company’s commercial stock price was too high, and another says it will sell almost all of its tangible assets.
The decline in Tesla’s market value caused Elon Musk to lose $ 3 billion, and that occurs just days after the company announced solid financial results despite the high manufacturing due to the virus, which contributed to the increase in share price, which immediately fell after Musk’s tweets accordingly. To sell millions of shares in minutes.
The Tesla CEO used the Twitter platform to promote his views that the emerging Corona virus epidemic is not as bad as being portrayed in the media, and also spoke of his view that the United States should start to leave of staying at home, what he describes as house arrest and in violation of constitutional rights.
A tweet posted by Mask in August 2018 about Tesla’s future fined him $ 20 million, as the tweet said he had received funds to make Tesla a private company, leading to the Stock Market Commission and Values of EE. USA To file a fraud case against him.
At the time, he agreed to show all tweets containing important information about the company to the legal adviser before posting it on the platform, and a federal judge said in early April: Tesla and Musk should face a shareholder lawsuit regarding to that tweet, which included the accusation that Musk is trying to defraud them. .
Tesla’s share price is too high
– Elon Musk (@elonmusk) May 1, 2020
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