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Why Elon Musk had to lose his CEO post of Tesla ?
Recently, about 2 to 3 days ago, a news came which tells about the controversy tweet of Billionaire Elon Musk. Do you know ?
If not that's not a big deal, here we have try to explain you.
On 1 May, Friday Elon Musk twitted about the Tesla's stock. ( Tesla Electic Car - Tesla is a Electic - car manufacturing company, whose CEO was Elon Musk.
- What was the tweet ?
The tweet was based on the shares of Tesla car manufacturing company Tesla .
And the tweet was - " Tesla stock price is too high imo " said by Elon Musk. By which the tweet marketers reacted quickly, the company's stock plunging more than 10 percent.
Legals experts admited to being baffled as to whether Musk's latest tweet violates securities law, saying they can think of no other circumstances where a CEO has tried to drive down the price of his company's stock with casual statements.
" Musk quites as CEO " -
By coming in controversies, Board of Members and other people's against him, Elon had to quite from Tesla CEO .
- Musk Earlier Notorious tweet :-
Musk also trolled for his tweet in earlier .
In about August 2018, When he posted tweet about Tesla is " Going Private, Funding Secured " at $420 a share cost him his role as Chairman.
By the tweet of August 2018, he had to lose his designation of Chairman from the Tesla Board.
In August 2018 tweet resulted in Musk and Tesla reaching a settlement of fraud charges with SEC. The settlement included $40 million in penalties, split equally between the company and Musk, and by which Elon Musk was get removed by Chairman of Tesla Board. And now it's happens again and He had to lose his CEO post.
- What Cost Elon Paid ?
Elon had to get removed by Tesla CEO. Tesla stock also get decreased by 10 %. Tesla stock was trading at 760.23 just before Musk tweeted and then fell to a session low of 717.64, before falling even more.
Elon Musk also knocked $ 3 billion off Musk's own stake in Tesla.
#Stay home # Stay safe.
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