Elon Musk, the second richest person in the world, is quite active on Twitter. He keeps tweeting related to the latest business activities happening around the world. His follower base is continuously increasing due to his interesting tweets. Now, he has crossed the 50 million followers mark on Twitter. He keeps his followers busy with his comic as well as business-oriented tweets. He never leaves any stone unturned to make the social interaction interesting.
Recent Tesla Controversy on Twitter by Elon Musk
In the latest tweet, Elon Musk claimed that his automobile company Tesla will be the biggest in the world.
Yesterday, Musk tweeted:
“I think there is a >0% chance Tesla could become the biggest company.”
It was not a direct tweet from Elon Musk. He was replying to a follower query who said that electric car giant Tesla could be bigger than Apple. In this tweet, he tagged Tesla CEO.
On Elon tweet, another Twitter user replied:
“I love the direction of that arrow!”
In response to this tweet, Elon tweeted: “Probably within a few months.” It created an uproar in the stock market. Though Musk deleted these tweets many users took the screenshots and the news spread like a fire.
This whole conversation did not go down well in the investor fraternity. As a result, the market share of Tesla started falling. Initially, it went down by 5.6%. Later, there was a surge in Tesla share but still, it closed the day with a 3.4% share decline. In the end, Tesla share closed at $618.71 and its market value saw a total loss of 19 billion to $593.8 billion.
Investors are not happy with such tweets from Elon and market regulators also have a close watch on Tesla activities. Earlier, the company was dragged to court due to labourers pay controversy. Though, the regulators may not take any action related to the current tweeter controversy, Dan Ives, the managing director of equity research for Wedbush Securities, called Musk’s Twitter barrages frustration for investors.
“Elon is Elon, and that’s part of his interaction with his followers and commenting on a range of issues. But when it comes to some of these tweets, it’s like a kid that keeps playing with firecrackers.”
He further added:
“Right now, investors don’t want to see any noise or sideshows from Tesla and Musk. They just want to see results, deliveries and ultimately something that would drive the stock higher.”
Other Interesting Incidents by Elon Musk on Twitter
It’s is not new for Elon Musk to tweet like this about the business firms. He keeps doing this to entertain his 50 million followers. We all are aware of how he made Signal popular with his two-word tweet: “Use Signal”. This tweet sent so much traffic to the instant messaging app that they could not handle the users’ request.
In another tweet, he praised Etsy and the market share soared for the online e-commerce company. He talked about Bitcoin and the already popular cryptocurrency value further jumped. Recently, he also announced that you can buy a Tesla car with Bitcoin. This service is right now limited to USA customers.
Dogecoin, a lesser-known cryptocurrency, became overnight popular when he shared meme related to it. Today in the latest tweet related to Dogecoin, he said that he will put the Dogecoin on Moon. And as usual, this tweet surged the value of Dogecoin by 29%.
U.S. Securities and Exchange Commission(SEC) always has a close watch on Elon Musk Twitter handle. In 2018, SEC charged Musk with securities fraud when he tweeted that he will take Tesla private with $420 per share. Such misleading and false tweets helped Tesla to grow by 6% at that time. Finally, the matter was settled when Tesla and Elon Musk paid a penalty of $20 million each. And Elon Musk also stepped down from the Tesla Chairman position for 3 years.
This is not the one incident, there are so many like this. In one of his tweet, he said that Tesla’s share is overpriced and did not go well with investors. They lost a lot of money and some of them filed a lawsuit against him in 2020.
Well, whatever is the case. Elon Musk is the darling of Twitter. He will continue his unpredictable behaviour on the Microblogging site. Users love him for that. Sometimes, his tweets cost a lot of money to his companies, but it seems like he does not care. Elon Musk is Elon Musk. Love him, hate him but you can’t ignore him.