The US stock market watchdog SEC has previously advised Tesla boss Elon Musk not to tweet about a number of price-sensitive topics surrounding Tesla without the permission of a lawyer. Tesla did not immediately respond to requests for comment on Friday. Gharrity's attorneys, Musk's attorneys in the SEC case, and the SEC did not immediately respond to similar requests. In recent months, Musk has continued to push investors in one direction with his social media outlets and erratic tweets. The coordinated action by private investors to increase the share of the retail chain GameStop now also seems to be successful.
Gamestonk !!
It took just one tweet from the billionaire to boost the stock. Shortsellers have lost billions after the course of the video game retailer GameStop went through the roof. A large group of amateur traders on the forum Reddit has pushed the price of the stock up. By the way, the share fell sharply on Thursday, and it bounced again on Friday.
The founder of Tesla and SpaceX has had some tough weeks on social media. His tweets had a significant impact on the stock market. Musk has also previously written controversial posts, such as the tweet claiming that "in my opinion the price of a Tesla stock is too high." This tweet accounted for a loss of nearly $ 12 billion in value.
In recent weeks, it came out that Tesla was buying $ 1,5 billion in Bitcoin Musk's Tesla Inc. said it might accept the coin as payment, launching the cryptocurrency to new all-time highs. When Elon Musk tweeted `` use Signal '' earlier this year, he was talking about a nonprofit's messaging app. But soon, the stock price of Signal Advance Inc., a small and totally unrelated medical device company in Texas, rose 5100%. That's the power of Musk, the world's richest person, and his more than 46 million Twitter followers.
Musk's tweets have added billions to the market value of listed companies in recent weeks. And after saying last week that he would be off Twitter 'for a while', he was back in a day to promote the cryptocurrency Dogecoin. Musk's tweets - with some help from rapper Snoop Dogg and Kiss bassist Gene Simmons.
Also read: Tesla's billion-dollar investment in bitcoin cryptocurrency
