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

bbc.co.uk

42 points·dustinmoris··14 comments

The tweet in question: https://twitter.com/elonmusk/status/1256239815256797184

> Tesla stock price is too high imo

isn't the entire market down today though? how can it be proven that his tweet impacted the price versus a broad market loss?

you can do this with a synthetic control. i did this at https://www.alexpghayes.com/blog/elon-musk-send-tweet/

Very nice little article. While my kind might not be the target audience would you mind adding a short ELI'mNotAnEconomist explanation?

This is not the first time he has said this. When tesla stock was hovering around 300$ for the first time back in many years ago, he repeatedly said the same thing. The stock corrected some 9 months or more later.

If he believes the stock is high, he is trying to calm the hype behind it. And not look bad when the stock actually self corrects.

https://news.ycombinator.com/item?id=23046047

Probably a stock buyback ploy

How would TSLA even have the capital to do buybacks? Doesn’t make sense IMO

Wouldn’t that be illegal?

You mean like making public claims you’ve secured funding To take a company private in order to squeeze shorts? Yes, that would be illegal.

They just issued $2B of shares only ~6 weeks ago

But that was when Elon was sober, so who knows

I thought he had people approving his tweets now? Was he hacked?

Only reason I have a Twitter account is apparently it is the BEST way to deal with TMobile's T-Force, to really get shit done. Otherwise, I consider Twitter a cesspool...a sideshow for the truly bored.

Downvotes continue...how is Twitter NOT the perfect troll platform? DANG, please delete my account!

Reply on news.ycombinator.com