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Elon Musk tweet cost Tesla billions

A four-character message posted in the midst of a financial storm for Tesla that had terrible consequences.

Tesla stock suffered one of its biggest setbacks of 2022 on Boxing Day. A fall of 11% for one of the most popular titles on Wall Street. Over the last five days, the action has lost a quarter of its value. A descent, among other things, caused by the messages of the boss of the brand Elon Musk on the social network Twitter.

First, a report of Reuters assured that the gigafactory of Shanghai would reduce its production in January. This announcement had the effect of a small bomb when classes resumed after the holidays. Despite the current poor health of the Tesla share price, Elon Musk continues to take care of Twitter and remains very active on his account.

A simple epeak» with disastrous consequences

The businessman notably responded to Dimitri Medvedev, the former Russian president. He simply mentioned that the tweets from Vladimir Putin’s right-hand man were “epic”. Seeing the results of this response, Elon Musk clarified that this message was full of irony and that he did not believe for a second in Medvedev’s theories.

Because it was the series of tweets from the vice-president of the Russian security council that scared investors. In a small list of predictions, the politician announces that the United Kingdom was going to do an about-face and return to the European Union. Other shared theories are less pacifist.

Medvedev explains in particular that a 4th Reich will be set up and fight France. He also predicts that a civil war will break out in the United States within the next 12 months. With this purely political message, the support of Elon Musk confirms at least the lack of professionalism of the richest man in the world.

While the financial health of his companies is more than complicated, Musk continues to “distract himself” with Twitter as mentioned by several financial analysts. According to them, Elon Musk has completely delegated the management of his companies and the latter are now subject to the controversial messages of their president.

Elon Musk is not the ideal boss

In recent weeks Elon Musk has notably posted messages against vaccine advocates, LGBT communities or the government of Joe Biden. The businessman also attacks the American media, which he accuses of spreading fake news. In order to calm the crisis, Elon Musk however posted a message at the end of last week, assuring that he would not sell any more Tesla shares in the 18 to 24 months to come.

The stock price has fallen 40% in just one month © Tesla

Efforts quickly reduced to nothing by Musk himself who plunged his companies into a “perfect storm” according to Thomas Haye, president of Great Hill Capital, a very large investment fund on the other side of the Atlantic.

Source: www.journaldugeek.com

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