Elon Musk's Twitter Posts Resulted 12% Steep Fall in Tesla Stocks

A few days ago, Elon Musk, CEO of Tesla expressed his views on worldwide COVID-lockdown and his anti-lockdown opinion already caused a major dent on the company's performance on stock market. But this time, Musk has come out strong against something else: the concept of physical possessions.

Musk earlier this week railed against lockdown measures put in place to slow the spread of COVID-19, and on Friday, he launched into another bizarre Twitter tirade, declaring with no context that he will be "selling almost all physical possessions" and "will own no house."

This twitter expression is experiencing some strange reactions on twitter and other social media. Moreover, the stock prices of Tesla have witnessed a steep fall.

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

— Elon Musk (@elonmusk) May 1, 2020

The tweet also knocked $3bn off Mr Musk's own stake in Tesla as investors promptly bailed out of the company.

"Tesla stock price too high IMO," he said, one of several tweets that included a vow to sell his possessions.

In other tweets, he said his girlfriend was mad at him, while another simply read: "Rage, rage against the dying of the light of consciousness."

In 2018, a tweet about Tesla's future on the New York stock market led to regulators fining him $20m and agreeing to have all further posts on the platform pre-screened by lawyers.