On Friday past and over the weekend Tesla CEO Elon Musk posted a bizarre series of tweets ranging from at best, quoting lines from the Star Spangled Banner, to at worst declaring that, in his personal opinion, “Tesla stock price is too high imo”.
As you can probably imagine the markets did not enjoy this musing, not at all. Tesla’s share price took a 10% dive in the space of an hour. So, was he correct?
This as they say, isn’t the first rodeo for a CEO who’s tweets read like an incomprehensible stream of consciousness. In 2018 you may remember Musk tweeted that he was taking Tesla private at $420. Other times he has landed himself in hot water for questioning the character of others, something we will not go into here.
Many have been bearish on Tesla’s price for some time now which is not hard, even with a cursory glance at their financials, yet the automobile manufacturer continues to outperform. Their navigation of the next number of months as well as this twitter fiasco will be interesting to observe.
(Disclaimer: This piece in no way indicates financial advice or a recommendation)
