How The Market Reacts To Elon Musk's Twitter Account
Visionary entrepreneur Elon Musk has never been one for mincing worlds. When Musk talks, the world tends to listen. And when Musk takes to Twitter to share his thoughts on developments at Tesla Motors Inc (NASDAQ: TSLA), the stock market tends to react.
Here’s a short list of times that Musk tweets have moved the stock market in recent months.
1. 4/28/2015 - “Missing Piece”
On Tuesday night, Musk tweeted the following cryptic message:
Tesla has sent out invitations to an event on Thursday night that references “The Missing Piece,” which is speculated to be a home battery pack.
Tesla shares have had a somewhat muted reaction to the tweet, trading up about 0.4 percent on a day where the Nasdaq has fallen more than 0.5 percent.
2. 3/30/2015 - “Major new Tesla product line -- not a car -– will be unveiled at our Hawthorne Design Studio on Thurs 8pm, April 30”
Last night’s tweet was not the first time that Musk has referenced Thursday night’s event. The first tweet, from about a month ago, boosted Tesla shares by 4 percent.
3. 3/15/2015 - “Tesla press conf at 9am on Thurs. About to end range anxiety… via OTA software update. Affects entire Model S fleet”
On the Monday following Musk’s Sunday tweet about eliminating range anxiety, Tesla shares climbed 3.7 percent.
4. 10/1/2014 - “About time to unveil the D and something else”
Musk’s pre-release Twitter hype of the new all-wheel drive version of Tesla’s Model S sedan drove Tesla’s stock up 4.7 percent, forcing Musk to defend himself against criticism that he uses Twitter as a means of intentionally manipulating Tesla’s share price.
5. 1/14/2014 - “The word ‘recall’ needs to be recalled”
Musk’s response to rumors that thousands of Tesla cars were being recalled over a potentially overheating power adapter drove Tesla shares higher by 16 percent, although the company’s announcement that 4Q13 Model S sales were 20 percent higher than expected likely played a much larger role in the move.
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