Sunday , September 15 2019
Home / canada / After Tweets, Elon Musk Email Wreaks Havoc on Tesla Stock

After Tweets, Elon Musk Email Wreaks Havoc on Tesla Stock

Tesla has fallen over the past few days

Tesla (TSLA) fell by 4.2% at 11:55 am EDT on May 17. As the US capital markets opened today, they recovered their losses, and the S & P 500 (SPY) is almost insignificant for the day.

Tesla had a negative price effect on May 16th after the National Transport Safety Board said in its preliminary investigation that Tesla's autopilot was used in the catastrophic clash of Tesla model 3 in Delray Beach, Florida last year. The reports that T. Rowe Price has sold most of its shares to Tesla also put pressure on Tesla on May 16th.

After Tweets, Elon Musk Email Wreaks Havoc on Tesla Stock

Musk's email

Today, markets are reacting to email Tesla Elon Musk's executive director, sent to the employees in which he talks about spending control. Now Musk will closely monitor the company's costs. He said in an e-mail to the employees: "Going forward, all costs of any kind in the word, including parts, salary, travel expenses, rent, literally any payment leaving our bank account must (must) be reviewed."

Tesla jumped earlier this month after announcing it would raise $ 2 billion by issuing shares and convertible banknotes. At the same time, Steel Steel, the former steel producer, fell sharply after presenting a US $ 1.2 billion investment plan.

Cost control measures

Today, markets seem to punish Tesla for aggressive cost control measures. While cost control measures are generally positive for a company, Musk uses words like "hardcore" and talks about exploring any expense that can force investors to worry. Tesla's stocks fell to a fresh 52-week low.

In the past, Tesla's stock had turned into wild price fluctuations as a result of Musk's tweaks, including the scandalous tweed in which he was discussing the acceptance of part of Tesla. Since Twitter's activity in Musk is comparatively weaker than late last year, it seems that its e-mail fills the Tesla bear's gap.

Source link