Look Beyond the Tweets

Source: American Consequences
by Trish Regan

“Never before has a company, its CEO, and its stock fluctuations created such a rabid, passionate response among investors as Tesla (TSLA) and its founder Elon Musk have. Eccentric and sometimes erratic in his behavior, Tweet-loving Musk is making waves again. He sold $5 billion worth of stock this week, but not without a whole lot of drama leading up to the moment. Over the weekend, Musk threatened to sell 10% of Tesla based on the results of a Twitter poll …. It’s debatable if he was trying to make a political point about taxes or if he was just deflecting commentary about why he was selling his stock. The tweets could even put him in hot water (again) with the Securities and Exchange Commission (SEC) after the Twitter controversy caused a 15% sell-off in Tesla stock earlier in the week (before recovering).” (11/12/21)