Tesla: Elon Musk blocks Tesla’s course with new tweets

Tesla chief Elon Musk has slashed the market value of the electric car maker by billions of dollars with a series of strange tweets. Musk wrote On May 1, 2020, Tesla’s stock price was too high in his opinion. Besides tweeted the billionaire “I sell almost all physical possessions” – and that he would no longer own a home. Tesla’s stock then ended the trading day with a negative sign of a good ten percent.

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1. SySS GmbH, Tübingen, Frankfurt am Main, Munich, Vienna (Austria)
2. Helmet Fastening Systems / Fairchild Fasteners Europe – Camloc GmbH, Kelkheim (Taunus)

When asked by the Wall Street Journal if the tweets were a joke and if the company had approved them before publication, Musk responded by email. “No”as the newspaper reported.

That could put the Tesla chief back in focus for the US Securities and Exchange Commission. USA An agreement with the authorities stipulates that Musk must have the company approve his tweets. This was sparked by Musk’s announcement on Twitter in the summer of 2018 that he was considering withdrawing Tesla from the stock exchange and that funding would be guaranteed. The SEC, after an investigation, concluded that Musk had no firm funding commitments and enforced Twitter’s restrictions.

Musk has a long history of escapades on Twitter

Musk is also known to cause a stir and confusion with strange Twitter appearances. So he wrote after the SEC deal that he was “new nothing” von Tesla, sparking speculation that he had resigned from office. On April 1, 2018, he tweeted a photo jokingly about a Tesla bankruptcy. An important question now might be whether the statement that it is your opinion releases you from the release obligation.

The campaign comes at a time when Tesla was financially in calmer waters after heavy losses. It was only on April 29, 2020 that the company celebrated its longest period of profitability since its founding in 2003 with the third consecutive quarterly profit. Despite Friday’s heavy losses since the beginning of the year, the stock price increased by more than 80 percent, although the crown pandemic had a heavy impact on the loaded auto industry.