Elon Musk made Tesla’s shares lose 10 percent with a tweet

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American businessman Elon Musk wrote on Twitter on Friday that the value of the shares of his tech company Tesla was too high, according to him. In just a few minutes, Tesla’s shares lost nearly 10 percent on the stock exchange, going from over $ 760 each to less than $ 690: a loss of capitalization – that is, the total value of the shares – of about 14 billion overall, and about 3 billion for Musk’s share only.

Musk is known for his controversial and seemingly impulsive tweets, which in the past had already created major consequences for society. In 2018, he announced cryptically on Twitter that Tesla would withdraw from the stock exchange, which hadn’t happened. The SEC, the U.S. stock exchange control agency, therefore requested that from then on its tweets with sensitive information should have been approved by an external commission. The Wall Street Journal asked Musk in an email if he was joking in the tweet and if he had checked before publishing it: “No,” Musk replied laconically.

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