Tesla shares plummet 5 percent after tweet from company founder Elon Musk The mask on the sale of shares, according to NASDAQ data.
During the trading on November 15, the price of securities dropped to $ 980.7. By the time the news was written, the share price had corrected to $ 990. The capitalization of the company fell to $ 990 billion.
The day before the fall in shares, Musk commented on the words of Congressman Bernie Sanders calling for fair taxation of the super-rich Americans. “We must demand that the very rich pay their fair share,” the official wrote. The Tesla founder decided to respond to his words: “I keep forgetting that you are still alive. Do you want me to sell more shares, Bernie? Just say one word. ”
Musk's statements may lead to a further decline in the value of securities. “Musk's tweet on Sunday, ridiculing a senior politician, could put pressure on stocks in the coming weeks,” Kalkine Group CEO Kunal Sonya told Reuters.
The week of November 5-12 for Tesla was the worst week since March 2020 – shares have lost 15.4 percent in value. The company lost its trillionaire status as its market capitalization fell by $ 240 billion.
Shares began to fall after Musk posted a poll on his Twitter account about the sale of his securities. Users supported this decision, the businessman sold part of his shares for $ 5.5 billion. Musk's move accelerated the decline in securities prices. Prior to the sale of the shares, the billionaire owned approximately 23 percent of the company's capital, including stock options.