Connect with us

World News

Elon Musk reveals why he is selling his physical properties



This is Why US Billionaire Elon Musk is selling his physical possession

Elon Musk reveals why he is selling his physical properties - images 43 300x236 - Elon Musk reveals why he is selling his physical properties

Due to Covid-19 crisis, according to CNN, Tesla’s stock price dropped sharply on Friday, not long after CEO Elon Musk tweeted “Tesla stock price is too high, IMO.”

Tesla’s stockė had been trading at about $US760 ($A1183) a share, then, after Musk’s 11:11am Tweet, it plummeted to below $US700 ($A1090) a share within minutes before rebounding slightly.

By midday, the stock was down 8 percent. Tesla stock price sky-rocketed
The tweet came amidst a string of tweets starting with an announcement that he was “Selling almost all my physical possessions” and “Will own no house,” followed by lyrics from the US national anthem and another tweet indicating that his girlfriend, pop singer Grimes, “is mad at me.”

IMO, acronym stands for “in my opinion.”


After a tweet concerning the stock price, he then tweeted “Now give people back their FREEDOM,” an apparent reference to coronavirus lockdowns that Musk has long protested.

October 2018, Elon Musk reached an agreement with the SEC that anything he tweeted that could impact the company’s stock price would be reviewed before the tweet was sent. That was after Musk had tweeted that he had a deal to take the company private which, it later turned out, he did not.

READ ALSO: Trump Approves The Use Of Remdesivir To Treat coronavirus

Musk’s tweet about the stock price probably won’t get him trouble, though, said John Coffee, a professor of corporate law at Columbia University. First of all, the tweet simply states Musk’s personal opinion about the stock price rather than anything concrete.

READ ALSO:  One Billion people Could Be Infected With The Virus - Aid Group Warns

Musk is a highly intelligent undoubedly an intelligent business man.


Don’t forget to subscribe to our page and try to leave a feedback to express your feelings/thoughts about our content. Always check this space for more News updates

Continue Reading
Click to comment

Leave a Comment