Elon Musk tweet wipes $14bn off Tesla’s value

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Tesla founder Elon Musk cleared $ 14 billion of his value after tweeting that the stock price was too high in his opinion.

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The tweet also dropped Musk's $ 3 billion stake in Tesla as investors quickly left the company.

"Tesla's stock price is too high," he said, one of several tweets that included a promise to sell his assets.

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In other tweets, he said his girlfriend was mad at him, while another simply said, "Anger, anger at the death of the light of conscience."

In 2018, a tweet about Tesla's future in the New York stock market prompted regulators to fine him $ 20 million and agree to have all other posts on the platform previewed by lawyers.

& # 39; Headache & # 39;

The Wall Street Journal said it asked the billionaire if he was joking about the stock price tweet and if he had been examined, receiving the answer "No".

Tesla's stock price soared this year, putting the electric car maker's value at nearly $ 100 billion, a brand that would trigger a bonus payment of hundreds of millions of dollars to the entrepreneur.

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"We see these comments from Musk as irreverent and Elon is Elon. It is certainly a headache for investors to venture into this area, as his tweets remain an important issue. [Wall] Street is clearly frustrated, "Daniel Ives, an analyst at Wedbush Securities, told Reuters news agency.

In 2018, Musk tweeted that he may have secured funding to possibly remove Tesla from the stock exchange and make it private, which again led to fluctuations in share prices. The Securities and Exchange Commission considered a comment that moved the market, fined it and forced Tesla to carry out checks to ensure that it did not happen again.

But last month, a federal judge said Tesla and Musk must face shareholder action over the private tweet, including an allegation that Musk intended to defraud them.

Earlier this week, he tweeted to his 33.4 million followers some strong criticism of US restrictions on staying at home because of the coronavirus pandemic. In 2019, he found himself in court last year, after tweeting that a British diver was a "pedophile".

Musk said the promise to sell his belongings included his home, previously owned by actor and producer Gene Wilder, and purchased in 2013.

"A stipulation for sale," he tweeted, "I own Gene Wilder's old home. It can't be destroyed or lose your soul."

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