Business

Why Elon Musk’s one tweet can make fortune or be the reason of downfall?

By Lokesh Choudhary

Real-life Ironman, super cool billionaire, most loved billionaire and a dozen other nicknames Elon Musk enjoy for being a billionaire that sells future. He’s always in news, be it an alleged affair with Amber Heard or sleeping in his Giga Factory.

Mostly nowadays, after the pandemic, he is in news because of his tweets! He’s at that golden throne right now, that his 2-word tweet can give a boost to an entire company, or be the sole reason for its downfall.

Remember Game stock? or Signal? For Signal inc. it wasn’t even a tweet directed to it! Still, people bought the stock like crazy and the result is in public knowledge. A stock got revived due to a dude commenting on a different app named “Signal”.

A peak noticed just after Musk’s tweet

It’s not a new thing though, in May 2020, Musk tweeted “Tesla stock price is too high” and the result was that Tesla lost nearly $14 Billion overnight! Elon Musk himself lost $3 Billion due to this activity.

Then came the famous tweet of a guy named Elvis. Who allegedly lost 10 grand just because of Elon Musk’s tweet.

https://twitter.com/TradeLikeElvis/status/1256241673425817602?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1256241673425817602%7Ctwgr%5E%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Finterestingengineering.com%2F11-of-elon-musks-most-controversial-and-surprising-tweets

The “420” cannabis joke

Musk’s adventures just don’t stop here. If you go a little back in time, 2018 saw musk paying a fine of $20 Million due to a “weed joke”.

What he tweeted was, ” Am considering taking Tesla private at $420. Funding secured.” He meant it as a weed joke, for April 20 or 4/20 being a famous holiday for celebrating cannabis culture.

What followed was a lawsuit from SEC which enforced Elon Musk to pay $20 Million as a fine.

However, it didn’t affect him much as a few days later, he said it was worth it!

The Point:

Follow the simple rule of the stock market, “Don’t invest in volatile stocks.” And as per industry experts, TESLA is considered a volatile stock. Still, where there is a huge risk, rewards are also HUGE.

This article has been written with the best understanding by the writer however if feel any information in the article is not true you can write to us at grievance@usanewshour.com

 

Tags: Elon Musk Elon Musk Tweets Tweets Twitter

Lokesh Choudhary

Lokesh is a journalist with a different set of mind to explore the unexplored stories. Currently under the project to bring the vision of organisation to visuals. Lokesh Choudhary is very interested in having a conversation with absolute strangers. He loves doing interviews, in fact, he considers it as his hobby! He also loves adventure sports and bike touring. He can be reached at admin@lokeshchoudhary.in