Tesla CEO Elon Musk may lose his job because of his Tweet. Read why
Tesla CEO Elon Musk may lose his job because of the tweet he posted on Twitter saying that Tesla stock was 'too high' also knocked $3 billion off Musk's own stake in the electric car-maker. His tweet in August 2018 about Tesla 'going private, funding secured' at $420 fine and he lost his chairman position as well.
by Kavitha
Updated: May 02, 2020 14:53 IST
Elon Musk - Tesla
Elon Musk may lose his job as Tesla CEO. The US Securities and Exchange Commission took into account his bizarre tweet that left Tesla's market value go down by $14 billion in hours. Tesla stock was trading at 760.23 just before he tweeted and then fell to a session low of 717.64, before falling even more.
He captioned Tesla stock was too high also knocked $3 billion off Musk's own stake in the electric car-maker.
Tesla stock price is too high imo— Elon Musk (@elonmusk) May 1, 2020
In the year August 2018 tweet resulted in Musk and Tesla reaching a settlement of fraud charges with the SEC. The settlement included $40 million in penalties and the removal of Musk as chairman of the Tesla board. Musk's misleading tweets caused Tesla's stock price to jump by over six percent on August 7.
