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Elon Musk says Tesla’s stock price is too high, and now it has fallen

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Tesla CEO Elon Musk tweeted Friday that Tesla’s stock price is “too high imo,” and the stock fell immediately after. Tesla’s stock is down more than eight percent as of this writing.

Last year Musk made an agreement with the Securities and Exchange Commission to have a company lawyer pre-approve tweets about Tesla’s finances, sales, or deliveries last April. The settlement exists because Musk tweeted he was thinking of taking Tesla private, “funding secured.” The SEC sued him for securities fraud as a result.

Here is Musk’s entire tweet:

Tesla stock price is too high imo

— Elon Musk (@elonmusk) May 1, 2020

On February 19th of last year, Musk tweeted that Tesla would make “around” 500,000 Tesla Model 3s in 2019, which was not in line...

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