POLITICS

Elon Musk Tweets And Tesla Stock Plummets

Tesla stock dropped as much as 12% after the billionaire tweeted that the stock price was "too high."

Billionaire and walking temper tantrum Elon Musk melted down on Twitter ― again ― and in the process, caused his company’s stock to plummet.

“Tesla stock price is too high [in my opinion]” the company’s CEO tweeted Friday morning. By early afternoon, Tesla lost billions as its stock fell as much as 12%.

The Tesla CEO began his tirade earlier this week when he whined that California’s stay-at-home orders were infringing on his freedom to make more money at the potential cost of his own workers getting sick from the coronavirus.

“FREE AMERICA NOW,” he tweeted to his more than 30 million followers on Wednesday. Musk previously falsely claimed that children are “essentially immune” to the virus and said that “coronavirus panic is dumb.” In other tweets, he applauded states like Texas that are reopening businesses despite the present threat that has killed more than 60,000 Americans.

Following his Friday tweet about Tesla’s “too high” stock prices, Musk then tweeted he was selling all of his possessions before tweeting out lyrics to “The Star-Spangled Banner.”

Musk should have learned his lesson after he previously said Tesla stock was overvalued in 2014, causing the company’s stock to drop 6%.

Tesla shareholders should be used to Musk’s self-owning antics at this point. In 2018, he tweeted that Tesla would go private at $420 a share. The tweet was presumably a joke, but the Department of Justice wasn’t laughing when it launched a criminal probe. Musk must now submit his public statements regarding Tesla’s finances and other topics to the company’s legal counsel, CNBC reports. It’s unclear if Musk got approval before his latest tweet that caused Tesla’s stock to dive.

Musk was previously in the news after patting himself on the back for sending 1,000 ventilators to California to help coronavirus patients. It was soon discovered he hadn’t sent ventilators at all, but instead, machines that help with sleep apnea.  

Following Friday’s downward spiral of Tesla stock, the 48-year-old tweeted out that his musician girlfriend was mad at him. 

“My gf @Grimezsz is mad at me,” he tweeted. Musk may want to check in on his shareholders, too.