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Wall Street: after a mocking tweet from Elon Musk, Tesla plunged 11% on Tuesday

The automaker has lost 69% of its stock market value since the start of the year, and 44% in December alone.

Elon Musk is a regular on Twitter. While the price of his company Tesla has been falling sharply for a few months, a message posted by the billionaire on Tuesday on the social network has accelerated this trend. The American entrepreneur saw fit to respond to a series of tweets published by former Russian President Dmitry Medvedev, providing a list of mind-blowing events for 2023. The latter notably anticipated the emergence of a Fourth Reich in Europe or even a civil war in the United States of which Elon Musk himself would be the president. Following these forecasts, the owner of Twitter replied, calling these messages“epic”. A gap that caused Tesla’s stock to plunge 11.41% to $109.10 on Tuesday.

The former Russian president’s initial message and Elon Musk’s successive responses punctuated Tesla’s course. Twitter

A few hours later, the Tesla boss returned to his remarks, explaining that they were to be taken with irony: “These are the most absurd predictions I have ever heard.“Wednesday, the automaker took a little stock market oxygen, climbing 3.31% to 112.71 dollars. A low price, at the lowest for more than two years, prompting a hunt for bargains. The company has even become the most popular stock among buyers on the Wall Street stock market this year. Since the beginning of 2022, Tesla has lost 69% of its value, and 44% only in December. But Tesla’s stock plunge isn’t just due to Elon Musk’s erratic tweets: The war in Ukraine, the energy crisis and falling orders may well continue to darken next year. the stock market horizon of the American car brand.

Source: www.lefigaro.fr

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