Elon Musk’s tweet could lose him job as Tesla CEO
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Tesla CEO Elon Musk may soon lose his job owing to the bizarre tweets sent out by him, which led to Tesla’s market value drop by $14 billion in just a few hours. On Friday he tweeted, “Tesla stock price is too high imo.” Just before the tweet, he had tweeted that he was selling all his possessions, including his house.

Right before Musk’s tweet, Tesla stock was trading at 760.23 just before Musk tweeted and then fell to a session low of 717.64, before falling even more. This is not the first time Musk has put his company under the public lens. In August 2018, Musk tweeted, “Am considering taking Tesla private at $420. Funding secured.” The company later covered up by saying Musk had talked to Saudi Arabia’s sovereign wealth fund about potential funding.

The US Securities and Exchange Commission sued Musk for misleading investors with his tweet. But in September, after Musk and Tesla paid $40 million in penalties, the matter was settled. And the company hired a lawyer to monitor all of Musk’s communications including his tweets.  Musk is supposed to seek pre-approval of his tweets including anything regarding the company's securities, his acquisition or disposition of shares, nonpublic legal or regulatory findings or decisions.

In February 2019 he tweeted, “Tesla made 0 cars in 2011, but will make around 500k in 2019. He quickly followed with a tweet that read, “Meant to say annualized production rate at end of 2019 probably around 500k, ie 10k cars/week. Deliveries for the year are still estimated to be about 400k.” Musk also has been ranting on about stay at home orders from the US government. On Wednesday he tweeted, “Give people their freedom back.”

  • Elon Musk
  • Tesla
  • CEO
  • Tweet
  • usa
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