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E. Muskas wrote that he believed the company’s share price was “too high.”
On May 1, the value of Tesla’s shares fell 10%. and at the end of the trading session, the price was $ 701.32. The company’s capitalization fell to $ 130 billion on Friday. USD
Just a day earlier, Tesla announced first-quarter 2020 results that turned out to be better than expected in the market, prompting the company’s stock price to rise 10 percent. The shares traded at $ 772.77 per share on Friday, before E. Muskas posted his post on Twitter.
Musk’s statements on Twitter have repeatedly become a pretext for inspections by the United States Securities and Exchange Commission (SEC) and various legal disputes. Under the terms of the settlement agreement signed by E. Muskas and the SEC in 2018, an entrepreneur cannot post any important statement to the company on social media without the company’s consent.
When asked by The Wall Street Journal if the recording on Twitter was a joke and if the recording agreed with Tesla’s management, Musk replied “no.”
In another publication, Musk called for US authorities to impose a “refund” on the restrictive measures imposed by the COVID-19 outbreak.
E. Muskas has repeatedly stated that such measures are more dangerous than the coronavirus itself.
Despite fears of a recession caused by the coronavirus pandemic, investor enthusiasm for Tesla’s ambitious business growth plans supported the value of the electric vehicle maker’s shares this year.
Since the early 2020s, the company’s shares have increased by almost 68 percent.
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