Tesla’s market value fell below $ 1 trillion after the musk tweet

New York: Tesla Inc.
shares extended sales recently on Monday as investors reacted to the sale of CEO Elon Musk’s stock recently a combined $ 6.9 billion, and to the latest tweets.
Tesla’s stock ended almost 2% lower at $ 1,013.39, leaving the company’s market capitalization fell by around $ 207 billion since before the Musk began selling the shares last week.
The latest stock decline followed a week’s dispute on Twitter between Musk, the richest person in the world, and Bernie Sanders after US senators demanded that rich people pay their “fair share” tax.
During the Monday session, Tesla traded as low as $ 978.60, pushing its stock market value below the $ 1 trillion sign on an intraday base for the second time in four sessions.
Tesla first reached a $ 1 trillion mark last month.
“Tesla’s shares have drowned sales based on Twitter’s poll last week.
And the Sunday Musk Tweet visits a senior politician can add pressure on stock in the coming weeks,” said Kunal Sawhney, CEO of the Equity Research Company Kalkine Group.
“By dismantling billions of dollars in stocks, Elon Musk is likely to increase a tax bill of around $ 15 billion.” Musk sold 6.36 million Tesla shares last week after floating ideas in Twitter polls.
He needs to reduce more than 10 million to fulfill his promise to sell 10% of his ownership in an electric vehicle maker.
Driven by thirst on Wall Street for electric vehicle makers, Tesla shares have surged more than 140% in the past 12 months.
Sellloff recently has stock at the lowest level since late October.
Also on Monday, Rivian Automotive jumped almost 15%, with an EV maker supported by Amazon.com now about 90% since last week’s initial public offering.
Reflecting the enthusiasm of retail investors, Tesla and Rivian are the most traded shares about Fidelity Online Brokers, with more than two buy orders for each selling order.
Chipsmusk supply constraints on Saturday asked Twitter users not to “read too much to” PepsiCo CEO comments Ramon Lagara about expecting the first shipping Tesla Semi Trucks in the fourth quarter.
“As mentioned publicly, Tesla is limited by short-term chip supplies & long-term cell supplies,” Musk tweeted.
“It is impossible to produce additional vehicles in volume until the two obstacles are handled.” Tesla has passed a global pandemic and a global supply chain crisis than rivals, posting recording income for the fifth consecutive quarter.
Meanwhile, Michael investors buried “The Big Short” Fame aimed at Musk again, tweeting “@elonmusk borrowed 88.3 million shares, selling all his big houses, moving to Texas, and asked @bernesanders whether he had to sell more stock.
He No need for cash.
He just wants to sell $ tsla.
“