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Elon Musk’s Tweet About Tesla’s High Stock Price Wipes USD$14 Billion off its Value: Are Their Stocks Overvalued?
By Seedly  •  May 6, 2020
If there is ever a word in the English language more suited to describe Elon Musk; that word would be maverick. The Tesla CEO is clearly a very unorthodox and independent-minded person who is a very different CEO to what we are used to. But his achievements are astounding. He is the co-founder of financial services X.com; the predecessor to PayPal which earned him millions when it was sold to eBay in October 2002 for USD$1.5 billion. He then went on to start Tesla (NASDAQ: TSLA) and Space X; two highly successful disruptive companies that are revolutionising the car and space travel industries respectively. As brilliant as an entrepreneur Elon Musk is, he has does some strange things that caused Tesla’s stock price to tumble. The first notable incident was when he tweeted that he will consider taking Tesla private at $420 a share.
Source: Elon Musk
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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
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