The billionaire CEO has in the past sent shares of his company on a wild ride and moved cryptocurrency prices with his banter and comments on Twitter, the social media platform where he is a regular.
How Musk’s Tweets Have Moved Shares: Just last month, Musk asked his fan-following on Twitter what it thinks of his proposal to sell about a tenth of his holdings in Tesla. Musk’s poll secured over 3.5 million votes, with nearly 58% voting in favor of him selling the shares.
Musk has since sold about $11.8 billion worth of shares at an average price of $1,073, according to a Twitter post by Gary Black, the managing partner at The Future Fund LLC, an SEC-registered investment advisor.
Tesla shares soared last month and joined the $1 trillion market capitalization after Musk expressed surprise that the news around car rental company
$Hertz Global Holdings, Inc. (HTZZW.US)$ has landed its biggest ever order from a rental car company is driving up the shares.
Both Tesla and Hertz shares later fell after Musk denied a contract had been signed.
Musk’s signature one-liner tweets often lead to wide swings in the price of assets, not just in Tesla, but other assets such as Dogecoin and Bitcoin as well.