Tesla Share Price Drops After Elon Musk Fires Off More Bizarre Tweets
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Tesla CEO Elon Musk couldn’t stop himself from busting out a mix of random, bizarre, and legally dicey tweets on Friday, sending the price of Tesla shares falling by at least 12 percent. “Tesla stock price is too high imo,” he wrote in one tweet. “I am selling almost all physical possessions. Will own no house,” he wrote in another. The multi-billionaire tech entrepreneur posted a string of excerpts from the national anthem, preceded by a tweet that said, “Now give people back their FREEDOM.” Musk used a Tesla earnings call on Wednesday to rant against “fascist” shelter-in-place orders in the Bay Area that have stalled production for his companies SpaceX and Tesla. Share prices rose after the call and were at $760.23 just before his Friday tweets.
Musk got into hot water with the Securities and Exchange Commission in 2018 after tweeting that he wanted to take Tesla private. He later agreed to have any public statements about Tesla’s finances vetted by lawyers first. It’s not clear whether he did that on Friday.