Tesla CEO Elon Musk says stock price is ‘too high,’ price falls 10%
Strange, but OK.
Diego Donamaria / Getty Images
The Tesla share has in recent days due to good news about a First quarter profit despite the Corona virus Pandemic, but on Friday the automaker’s inventory opened lower. At 8:11 a.m., CEO Elon Musk made a bizarre statement.
“Tesla stock is too high,” the CEO tweeted in my opinion. At the time of this writing, Tesla’s stock has fallen 10%. It had dropped by up to 12%.
Tesla share price is too high imo
– Elon Musk (@elonmusk) May 1, 2020
The comment comes after numerous media have reported on the first phase of a stock package Musk is incredibly close to being reached. Tesla must hold $ 100 billion worth for a monthly and a six-month average. The company achieved the first goal along with other operational goals led by Musk and is also close to reaching the six-month average. Earlier this week, the six-month worth of Tesla was $ 96 billion.
The six-month average will trigger an option for Musk to buy the automaker’s 1.69 million shares at a price of $ 350.02 per share. Musk can then sell the shares at the current price, which is twice as high. If Tesla reached the goal today, the CEO would make almost $ 600 million. The number will fluctuate based on the price at which Musk actually sells the shares.
I sell almost all of my physical possessions. Will not own a house.
– Elon Musk (@elonmusk) May 1, 2020
Before his strange tweet, Musk said on Friday that he was selling “all physical possessions” and “would not own a house.” He closed this stream of tweets, demanding that people “get their freedom back,” another stab at various orders issued due to the coronavirus pandemic in the United States. The CEO called her earlier “fascist” during investor call in the company’s first quarter.
Tesla did not immediately respond to a request for comment.
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