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Elon Musk Twitter meltdown tanks Tesla (TSLA) stock

No Elon wasn't hacked, he's just losing it.

Asif Khan

May 1, 2020 10:20 AM

5

If you were ever wondering if Elon Musk's tweets could get worse, well today is your day. After going on a profanity-ridden tirade against the state of California's Stay-at-Home order during Tesla's Q1 2020 earnings results conference call, Elon Musk has taken to Twitter with a bunch of tweets. A lot of them pushing for the reopening of America. This afternoon, the CEO of Tesla tweeted that the company's share price was too high, in his opinion. Shares are now down over $160 since the company reported a surprise profit just two days ago.

Tesla stock price is too high imo

— Elon Musk (@elonmusk) May 1, 2020

Gotta love a CEO talking their own stock down...

Now, Elon had posted a flood of #ReopenAmerica tweets in the past day, so it is no surprise to see his behavior escalate.

FREE AMERICA NOW

— Elon Musk (@elonmusk) April 29, 2020

Bravo Texas! https://t.co/cVkDewRqGv

— Elon Musk (@elonmusk) April 29, 2020

Give people their freedom back! https://t.co/iG8OYGaVZ0

— Elon Musk (@elonmusk) April 29, 2020

He also continued his pushback against the state of California.

Too much the moral arbiter of the world

— Elon Musk (@elonmusk) April 27, 2020

But today, he really went for it.

I am selling almost all physical possessions. Will own no house.

— Elon Musk (@elonmusk) May 1, 2020

This series of insane tweets definitely is worth transcribing:

I am selling almost all physical possessions. Will own no house. Just one stipulation on sale: I own Gene Wilder’s old house. It cannot be torn down or lose any its soul. My gf @Grimezsz is mad at me. Baby due on Monday.

Rage, rage against the dying of the light of consciousness

— Elon Musk (@elonmusk) May 1, 2020

Someone needs to take his phone away.

And the rocket's red glare,
the bombs bursting in air

— Elon Musk (@elonmusk) May 1, 2020

Yeah, he posted some lyrics to the National Anthem too...

Check out our Tesla Q1 2020 conference call transcript for all the details on the rant that started this whole Musk meltdown. A good company would have PR people that stop him from this insanity.

Steve Jobs didn’t tweet.

— Productive Citizen ✌🏾💙🙏🏾👊🏾 (@technosucks) May 1, 2020

Hedging my $TSLA long position overnight with puts because the CEO is a Jaboofer who tweets too much. @elonmusk

— Productive Citizen ✌🏾💙🙏🏾👊🏾 (@technosucks) April 30, 2020

Tesla shares have recovered some after hitting an intraday low of $683.04/share. I have liquidated positions in the company as a result of these tweets. Sometimes you need to listen when a CEO basically tells you to sell his stock. 

I would put @elonmusk on suicide watch. $TSLA

— Productive Citizen ✌🏾💙🙏🏾👊🏾 (@technosucks) May 1, 2020

It wasn't an easy decision to exit my second largest holding at Virtue LLC today, but my job is to manage risk. Elon Musk is a risk to Tesla shareholders, and that is truly sad as many times he has been the company's greatest asset.

Asif Khan

CEO/EIC/EIEIO

Asif Khan is the CEO, EIC, and majority shareholder of Shacknews. He began his career in video game journalism as a freelancer in 2001 for Tendobox.com. Asif is a CPA and was formerly an investment adviser representative. After much success in his own personal investments, he retired from his day job in financial services and is currently focused on new private investments. His favorite PC game of all time is Duke Nukem 3D, and he is an unapologetic fan of most things Nintendo. Asif first frequented the Shack when it was sCary's Shugashack to find all things Quake. When he is not immersed in investments or gaming he is a purveyor of fine electronic music. Asif also has an irrational love of Cleveland sports.