Tesla Shares Tank And See 10 Percent Drop Minutes After Elon Musk Tweets ‘Tesla’s Stock Price Is Too High’
Elon Musk, who has been actively calling for the reopening of the country on social media, continues to display bizarre behavior on Twitter and his tweets are beginning to cost shareholders a ton of money.
On Friday morning, Musk tweeted out “Tesla stock price is too high, imo” and the market immediately reacted when the stocks saw an immediate 7 percent plunge.
Tesla’s stock saw a 10 percent drop less than 30 minutes after Musk’s tweet.
The eccentric billionaire has gotten in trouble for tweeting about the company’s stock in the past and could be subject to a hefty fine by the SEC due to an agreement with the commission last fall.
Musk went on to share other strange tweets that led many to question whether he was hacked or just trolling the public.