The company's stock price fell to its lowest level in 25 months as Musk's antics on social media continued to hurt the company.
Musk's "antics" have inspired a gloomy year for the company.
The stock fell to its lowest level in more than a year.
As of mid-afternoon, shares had recovered from a 4.5% daily decline.
After Ford raised the price on its electric pickup truck and federal regulators disclosed a probe into General GM, the shares of General GM and Ford declined.
During the first trading session after the suspension of the accounts of Mastodon and multiple journalists who cover Musk, there was a new crash of the electric car maker.
The move drew criticism from news organizations CNN and the New York Times, Democratic politicians and a threat from the European Union that could result in a multimillion dollar fine.
Since Musk disclosed on April 4 that he had taken a 9% stake in the micro-messaging service, the shares of the electric car maker have fallen by more than 50%.
The latest Musk antics seen over the last 24 hours are feared to be going off the rails. The brand of Musk has gone from a hero to a villain in the eyes of the Street.
A total of $23.19 billion. That is how much Musk has sold his shares in the company since he agreed to buy the micro-messaging service.
The second richest man in the world is Musk. Almost all of Musk's fortune has been lost since last November. According to the latest analysis by Forbes, about two-thirds of Musk's net worth is derived from his stake in the electric car company.
Musk often criticized the site's content policies and promised to make it "an inclusive arena for free speech" under his ownership. Musk did fire employees tasked with moderating content and unblock several high-profile, mostly right-wing users, but his commitment to "free speech" came into question this week after he banned the popular account tracking the already publicly available whereabouts of his private plane and journalists The accounts were suspended because of threats to Musk's son.
The stock market is set for its worst week in months.
The market cap of the company has been slashed by $700 billion in the last year.
The accounts of several high-profile journalists have been suspended.
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