Elon Musk Twitter meltdown tanks Tesla (TSLA) stock

No Elon wasn't hacked, he's just losing it.

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If you were ever wondering if Elon Musk's tweets could get worse, well today is your day. After going on a profanity-ridden tirade against the state of California's Stay-at-Home order during Tesla's Q1 2020 earnings results conference call, Elon Musk has taken to Twitter with a bunch of tweets. A lot of them pushing for the reopening of America. This afternoon, the CEO of Tesla tweeted that the company's share price was too high, in his opinion. Shares are now down over $160 since the company reported a surprise profit just two days ago.

Gotta love a CEO talking their own stock down...

Now, Elon had posted a flood of #ReopenAmerica tweets in the past day, so it is no surprise to see his behavior escalate.

He also continued his pushback against the state of California.

But today, he really went for it.

This series of insane tweets definitely is worth transcribing:

I am selling almost all physical possessions. Will own no house. Just one stipulation on sale: I own Gene Wilder’s old house. It cannot be torn down or lose any its soul. My gf @Grimezsz is mad at me. Baby due on Monday.

Someone needs to take his phone away.

The selloff in TSLA shares intensified as Elon Musk tweets just kept coming.
The selloff in TSLA shares intensified as Elon Musk tweets just kept coming.


Tesla shares have recovered some after hitting an intraday low of $683.04/share. I have liquidated positions in the company as a result of these tweets. Sometimes you need to listen when a CEO basically tells you to sell his stock. 

It wasn't an easy decision to exit my second largest holding at Virtue LLC today, but my job is to manage risk. Elon Musk is a risk to Tesla shareholders, and that is truly sad as many times he has been the company's greatest asset.

CEO

Asif Khan is the CEO and majority shareholder of Shacknews. He began his career in video game journalism as a freelancer in 2001 for Tendobox.com. Asif is a CPA and was formerly an investment adviser representative. After much success in his own personal investments, he retired from his day job in financial services and is currently focused on new private investments. His favorite PC game of all time is Duke Nukem 3D, and he is an unapologetic fan of most things Nintendo. Asif first frequented the Shack when it was sCary's Shugashack to find all things Quake. When he is not immersed in investments or gaming he is a purveyor of fine electronic music. Asif also has an irrational love of Cleveland sports.

From The Chatty
  • reply
    May 1, 2020 10:20 AM

    Asif Khan posted a new article, Elon Musk Twitter meltdown tanks Tesla (TSLA) stock

    • reply
      May 1, 2020 10:34 AM

      good article. thanks, asif

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      May 1, 2020 10:51 AM

      It wasn't an easy decision to exit my second largest holding at Virtue LLC today, but my job is to manage risk. Elon Musk is a risk to Tesla shareholders, and that is truly sad as many times he has been the company's greatest asset.

      Still, you must've made a pretty good return given how early and how much TSLA you bought, right?

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      May 1, 2020 5:10 PM

      Sad but true. Congratulations on your profits as they stand. There will be plenty of ways to get back in and do well or better in the future.

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      May 1, 2020 5:37 PM

      Unfortunate but glad you got out. I’m no expert stocks man like you but that mother fucker made me nervous for anyone invested in TSLA

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      May 1, 2020 7:13 PM

      Masterclass in how to manage the situation. Well done

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      May 1, 2020 7:19 PM

      Good read, I pulled out a while ago due to Covid concerns but still have my eye on a model Y.

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      May 1, 2020 7:20 PM

      I still want to joyride around in a Roadster one day so you best let me drive it

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      May 1, 2020 7:24 PM

      His tweets are as bad as Trump's

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      May 1, 2020 8:30 PM

      Totally lacks context.

      It's a joke based on a previous joke and is aimed at the SEC's unconstitutional restriction of his freedom of speech.

      Since you don't bother to look up why he tweeted, it seems like he's losing it. Instead, you just made me about $4000 along with the other journo's out there who can't be fucked doing their job.

      So thanks.

      @ the brokers in this sell, go do the math you dumb motherfuckers.

      You just wasted your clients money in an embarassing way.

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        May 1, 2020 8:39 PM

        As clarification, I'm not an investor or short holder of TSLA, it was a bet with a friend based on how many brokers behave based on perceived sentiment rather than bothering to assess annuity holdings of corporate IP of TSLA.

        Which is why I run my own money.

        Zero difference between a journo's opinion and a brokers trades.

        Both are fucking dumb and both have no idea how to do the math.

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        May 1, 2020 9:06 PM

        Bwahahahahaha

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        May 2, 2020 2:02 AM

        [deleted]

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        May 2, 2020 2:20 AM

        You've made what he said somehow seem even stupider?

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