TESLA stock plummeted Friday after founder Elon Musk complained the “price is too high” and revealed he is selling all his possessions.
The stock was trading at 760.23 when Musk tweeted, falling to a session low of 717.64 after the posts, according to CNBC.
The coronavirus forced the closure of his auto plant in Fremont, California in March, and Musk has been critical of stay-at-home orders.
The impact of Friday’s comments brought shares down 5.6 percent.
“I am selling almost all physical possessions. Will own no house,” Musk tweeted on Friday.
“Tesla stock price is too high imo,” he added.
One year ago Musk settled a dispute with the SEC over his use of Twitter, agreeing to submit his public statements about Tesla’s finances and other topics to vetting by the company’s legal counsel.
On Friday Musk also demanded that people are given “their FREEDOM” as he tweeted the words to the US national anthem.
“Tesla stock is too high” in my opinion, the CEO tweeted. At the time of this writing, Tesla stock is down 10%. It was down as much as 12%.