Friday, 1 May 2020

Elon Musk sends Tesla tanking with tweets calling shares ‘too high,' slamming lockdowns and vowing sale of 'physical possessions’

Elon Musk
Elon Musk(BRENDAN SMIALOWSKI/AFP via Getty Images)

Elon Musk sent Tesla shares skidding Friday with another bizarre Twitter tirade calling the company’s share price “too high” and vowing to sell his “physical possessions,” including his house.
The brash billionaire also slammed pandemic lockdowns again, urging government to “give people back their FREEDOM” and tweeting lines from “The Star-Spangled Banner.”
Musk’s online rant came two days after Tesla, the electric car company he co-founded, reported a strong quarter that sent the share price higher.
Tesla stock topped $772.77 per share Friday but then tanked to a low of $683.04 by mid-day trading, a loss of more than 11%.
“I am selling almost all physical possessions. Will own no house,” Musk tweeted Friday.
“Tesla stock price is too high imo,” he posted a minute later.
“Now give people back their FREEDOM,” he continued before launching into lines from the national anthem.
Musk has been pushing for an easing of lockdowns after Tesla reportedly asked some workers to return to their jobs last week and then abruptly reversed course and canceled the plan, CNBC reported.
During Tesla’s first quarter earnings conference call this week, Musk blasted ongoing stay-at-home orders as “fascist,” saying they were “forcibly imprisoning people in their homes” in violation of their constitutional rights.
He voiced concern about the ongoing closure of Tesla’s factory in Fremont, Calif., calling it a “serious risk” to the company’s bottom line.
Tesla initially tried to keep the factory open amid shelter-in-place orders, but Alameda County officials said it didn’t qualify as an essential business.
Alameda was among several counties, including San Francisco, that recently extended coronavirus stay-at-home orders through May.
Musk previously made pandemic-related headlines when he tweeted March 6 that “the coronavirus panic is dumb.”

“Based on current trends, probably close to zero new cases in US too by end of April,” he tweeted March 19.

At the same time, Musk promised to donate hundreds of much-needed ventilators to hospitals around the country and tweeted he was reopening a Buffalo plant for ventilator production “as soon as humanly possible.”

The Washington Post reached out to several of the hospitals that received shipments from Tesla and found some of the devices were actually BiPAP or CPAP machines.

“Cedars-Sinai has received 40 BiPAP machines from Tesla. We are very grateful to Mr. Musk for this generous gift,” Duke Helfand, a spokesman for Cedars-Sinai Medical Center in Los Angeles, said in a statement to the Washington Post.

“BiPAP machines offer a noninvasive way to help patients breathe by pushing pressurized air into their lungs. This equipment can be useful as part of the overall pool of resources that will help us as we plan for a potential surge of COVID-19 patients in the weeks ahead,” the statement said.

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