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TESLA will fall but will bounce back soon...Still gotta love Tesla Stocks.
A majority of 3.5 million Twitter users -- 58% -- said they’d support such a sale in a Twitter poll that Musk launched Saturday and closed shortly after 2:15 p.m. Sunday in New York. The stake would be valued at about $21 billion based on 170.5 million Tesla shares he holds.
“I was prepared to accept either outcome,” Musk said in a tweet after the poll closed.
A cryptocurrency version of Tesla’s shares trading on FTX suggests Musk’s tweeting may cause the shares to fall when Wall Street wakes up Monday. They were fetching $1,137.60 as of about 5:20 p.m. Sunday in New York, 6.9% lower than Friday’s close for the real stock.
The crowd-sourcing exercise is the latest example of Musk’s long history of using Twitter and his legions of fans on the platform to stoke interest in his company, sometimes pushing the envelope with tongue-in-cheek tweets. The world’s richest person proposed the move in a tweet citing recent discussions about the ultra-wealthy hoarding unrealized gains to avoid paying taxes. Musk doesn’t take a salary, but has to pay taxes on any stock options that he exercises.
Musk’s tweets have moved Tesla shares in the past, sometimes drawing the ire of authorities. Musk in 2018 agreed to get approval from a Tesla attorney prior to communicating material information to investors as part of a settlement with U.S. securities regulators. It wasn’t clear whether that official previewed Musk’s Twitter poll.
TESLA will fall but will bounce back soon...Still gotta love Tesla Stocks.
A majority of 3.5 million Twitter users -- 58% -- said they’d support such a sale in a Twitter poll that Musk launched Saturday and closed shortly after 2:15 p.m. Sunday in New York. The stake would be valued at about $21 billion based on 170.5 million Tesla shares he holds.
“I was prepared to accept either outcome,” Musk said in a tweet after the poll closed.
A cryptocurrency version of Tesla’s shares trading on FTX suggests Musk’s tweeting may cause the shares to fall when Wall Street wakes up Monday. They were fetching $1,137.60 as of about 5:20 p.m. Sunday in New York, 6.9% lower than Friday’s close for the real stock.
The crowd-sourcing exercise is the latest example of Musk’s long history of using Twitter and his legions of fans on the platform to stoke interest in his company, sometimes pushing the envelope with tongue-in-cheek tweets. The world’s richest person proposed the move in a tweet citing recent discussions about the ultra-wealthy hoarding unrealized gains to avoid paying taxes. Musk doesn’t take a salary, but has to pay taxes on any stock options that he exercises.
Musk’s tweets have moved Tesla shares in the past, sometimes drawing the ire of authorities. Musk in 2018 agreed to get approval from a Tesla attorney prior to communicating material information to investors as part of a settlement with U.S. securities regulators. It wasn’t clear whether that official previewed Musk’s Twitter poll.