Tesla Stock Prices Drops After Musk Asks Twitter Whether He Should Sell Stock

That was easy to predict.
Stock drops

This shouldn't be surprising.

Tesla stock prices dropped Monday after Elon Musk, Tesla CEO, said that he would be selling billions of shares of the electric car company. This was based on a tweet poll.

According to The Wall Street Journal, the stock fell by 5.2 percent in premarket trading that opened the week. The stock is 4.92 percent lower than it was on the previous trading day, as of reporting. It would be the largest daily drop for the auto company since spring if it continues past market close.

Poll Story

All this comes just days after Musk tweeted asking his followers if he should sell 10 percent of Tesla shares to pay taxes.



Musk stated in a follow up tweet that Sunday, "I was ready to accept any outcome."

It shouldn't surprise anyone that the stock dropped. Tesla shares can be volatile, especially with a known memeposter at its helm. The fact that Musk appears to have done it in an effort to minimize taxes might raise eyebrows. It's unlikely to work.

READ MORE: Tesla stock price slides after Musk promises on Twitter that he will sell $21 billion of shares [The Wall Street Journal]

Tesla Stock: Elon Musk is Suddenly in desperate need to sell his stock



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