Elon Musk, the founder of the electric car manufacturer Tesla, caused the share price of Tesla to decrease with his share on his Twitter account.
Elon Musk stated that Tesla's rising stock price was very high in the past weeks. In his tweet from his own account, he said, "I think Tesla stock price is too high." Following Eweet Musk's tweet, Tesla's share value fell from $ 144 billion to $ 129 billion, and Tesla's market value fell 10.3 percent to $ 14 billion.
It is said that the U.S. Securities and Exchange Commission (SEC) will punish Elon Musk because it can be interpreted as stock market speculation after this tweet of Elon Musk.
Previously a $ 20 million fine was paid to the SEC
Elon Muks had previously been fined $ 20 million by the U.S. Securities and Exchange Commission (SEC) by sharing a tweet about Tesla's future in 2018. In addition, Elon Musk also had to leave the company's Chairmanship.
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