The price of US Tesla shares has slumped after chief Elon Musk tweeted that the company's
The price of US Tesla shares has slumped after chief Elon Musk tweeted that the company's "stock price is too high".

Tesla stock slides after Musk price tweet

Tesla chief Elon Musk has posted several tweets, including one saying the electric car maker's stock was overpriced, that lead to a nearly 12-per-cent sell off on US markets.

Tesla stock dropped from an intra-day high of nearly $US770 to $US690 on the tweets.

"Tesla stock price is too high imo," Musk said on Twitter, using an abbreviation for in my opinion. Two minutes earlier he said: "I am selling almost all physical possessions. Will own no house."

Minutes later, he tweeted on the coronavirus shutdowns, reiterating his position that the country should reopen.

"Now give people back their FREEDOM," a tweet said. Earlier in the week he dubbed as "fascist" some of the stay-at-home rules imposed by state and local governments.

On Friday, Musk also began to tweet a thread of the words to the US national anthem, ending with a question mark.

Musk's Twitter habits have in the past landed him in trouble with US regulators, with one case still ongoing.

Originally published as Tesla stock slides after Musk price tweet


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