Tesla shares fell sharply after its CEO, Elon Musk tweeted on his official Twitter page, saying the company’s shares were too high, which had cost the company about 10 billion dollars in market value.
Musk has more than 33 million followers and has a history with bad tweets, which have previously caused problems for his company.
And in 2018, his tweet caused to Mask that he acquired all Tesla shares and converted it into fully private ownership into a complaint by the US money market regulators.
The problem eventually resulted in a settlement, as Musk vowed not to use Twitter in any of the company’s tweets without consulting company legal matters.
It was not immediately known if the last tweet had obtained approval of the company’s legal affairs before it was written.
As part of the settlement reached in 2018, Mask retired from chairing the company’s board of directors for a period of 3 years.
Tesla shares fell by about 60% in the aftermath of the Corona crisis, before recovering strongly recently, by about 120%.
The high rises of the company’s shares have caused severe losses for short selling investors who are betting against the company’s high shares.
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