Tesla Stock Mysteriously Jumps after Elon Musk Tweets to ‘Delete Twitter’

By CCN Markets: Skepticism was the response on Monday as news spread that Elon Musk had deleted his Twitter account.

https://twitter.com/elonmusk/status/1140481957341495296

The problem is the account of the Tesla and SpaceX CEO still appeared active some 18 hours later.

On CNBC’s Fast Money Monday, analysts discussed Musk’s move possibly being the result of market forces rather than Musk’s own decision.

As you know, Musk has gotten into some serious problems with the SEC over his tweets. In addition, shareholders are growing weary over them, largely because they can move Tesla’s stock price. On hearing that the Chief Twitter of Tesla had deleted his account, investors seemed to take a sigh of relief.

Tesla’s price began to tick higher over the course of Monday.

Elon Musk
Musk says he’s deleting his Twitter account and Tesla stock rises.

Another Elon Musk Publicity Stunt?

While Musk’s Twitter account is still active, with more than 183k ‘likes,’ thousands weighed in on the supposed deletion.

For example, some commenters thought his move may be more of a case of a Twitter bruising he was receiving as he traded barbs with another tweeter over the weekend. Some pointed out that a spent Musk simply stopped it by saying he was deleting the account.

Also on CNBC’s Fast Money, speculation was that Musk may have realized that investors were simply tired of his Twitter rants.

Others agreed.

I’ll Be Back?

One thing for sure is that since Musk said he was deleting the account, he has not tweeted again. As he goes silent, investors should still be focusing on the company’s production numbers. Tesla is trying to meet projections, while also controlling costs, which has been a task.

Last modified (UTC): June 20, 2019 9:58 PM

About the author

Tedra DeSue
Tedra DeSue

If you can buy it, trade it, invest in it, or sell it, I write about it. For more than 20 years, I've covered all things finance. Based in Atlanta, Ga., I threw myself into covering the crypto space with a keen understanding that it would be an industry disruptor. I'm in constant search for the real Satoshi Nakamoto!