Published , by Asif Khan
Published , by Asif Khan
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.
Yeah, he posted some lyrics to the National Anthem too...
Check out our Tesla Q1 2020 conference call transcript for all the details on the rant that started this whole Musk meltdown. A good company would have PR people that stop him from this insanity.
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.