Tesla TSLA CEO Elon Musk tweeted Friday morning that the stock price was too high, which sent shares down 11%.
Musk said he's also rethinking his "attachment to the material world" and will be "selling almost all physical possessions." He also tweeted lyrics to the "Star-Spangled Banner." Some have speculated Musk's account was hacked, although the stream of conscious tweets aren't too out of the ordinary for the eccentric CEO.
Tesla shares are also trading lower potentially on market weakness as investor uncertainty grows on quarterly earnings reports from multiple companies. Hedge fund manager David Einhorn also questioned Tesla's accounting practices on Thursday.
Tesla's stock was trading around $761 per share when the "too high" tweet was sent out.
Tesla shares were trading down 11.44% to $692.44 at time of publication on Friday. The stock has a 52-week high of $968.99 and a 52-week low of $176.99.
Related Links:
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