Stories
Slash Boxes
Comments

SoylentNews is people

Elon Musk Tweet Wipes $14bn Off Tesla's Value

posted by Fnord666 on Saturday May 02 2020, @02:20AM   Printer-friendly
from the you've-got-another-fine-comin' dept.

upstart writes in with an IRC submission for carny:

Elon Musk tweet wipes $14bn off Tesla's value:

The tweet also knocked $3bn off Mr Musk's own stake in Tesla as investors promptly bailed out of the company.

"Tesla stock price is too high imo," he said, one of several tweets that included a vow to sell his possessions.

In other tweets, he said his girlfriend was mad at him, while another simply read: "Rage, rage against the dying of the light of consciousness."

In 2018, a tweet about Tesla's future on the New York stock market led to regulators fining him $20m and agreeing to have all further posts on the platform pre-screened by lawyers.

Previously:
(2019-04-27) Elon Musk Reaches Settlement in SEC Tweet Battle
(2018-10-06) Elon Musk Isn't on His Twitter Leash Yet, So He's Taunting the SEC
(2018-09-30) SEC Settlement: Elon Musk Resigns as Chairman of Tesla, Stays as CEO, $40 Million in Fines Paid
(2018-09-28) Elon Musk Accused by SEC of Misleading Investors in August Tweet [Updated]

Original Submission

 
This discussion has been archived. No new comments can be posted.
Elon Musk Tweet Wipes $14bn Off Tesla's Value | Log In/Create an Account | Top | 53 comments | Search Discussion
Display Options Threshold/Breakthrough Mark All as Read Mark All as Unread
The Fine Print: The following comments are owned by whoever posted them. We are not responsible for them in any way.

  • (Score: 2, Insightful) by Anonymous Coward on Saturday May 02 2020, @01:26PM (2 children)

    by Anonymous Coward on Saturday May 02 2020, @01:26PM (#989447)

    Tesla has been trading based upon magical thinking for years. The management, especially Musk, seem to know fuck all about the business that they're in and decisions seem to be more aimed at pretending to be ahead of things, rather than the reality that they're not dumping products on the market, hoping to keep going long enough that the competition gives up on electric vehicles. The price of the components and the sales price leave very little possibility for them to ever turn a profit, even when their AI isn't killing people.

    Starting Score:    0  points
    Moderation   +2  
       Insightful=1, Informative=1, Total=2
    Extra 'Insightful' Modifier   0  
    Total Score:   2  

  • (Score: 0) by Anonymous Coward on Saturday May 02 2020, @03:19PM (1 child)

    by Anonymous Coward on Saturday May 02 2020, @03:19PM (#989505)

    That last line put an image in my mind of the way that AI really takes over. Forget Terminators, it's little electric buggies mowing down pedestrians.

    • (Score: 0) by Anonymous Coward on Sunday May 03 2020, @02:50PM

      by Anonymous Coward on Sunday May 03 2020, @02:50PM (#989812)

      Uber is working on that part.