Elon Musk tweet wipes $14 billion off Tesla market in hours.
Tweet saying that Tesla stock was “too high” . Musk share value in Tesla is $3 Billion and now all the other investors angry over the incident which is created by him.
Elon may lose his job as Tesla Chief executive. US Securities and Exchange commission (SEC) must take action against him as the tweet is against their rules.
Because Tesla tweet created market disruption as the tweet was misleading.
Before the tweet the market value of Tesla was $141 billion and later with disruption fell down to $127 billion. He was supposed to take the pre approval before the tweet, as he don’t have any pre-approval he is liable for an action.