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Elon Musk's tweets caused a 20% drop in Tesla's share price

Elon Musk's tweets caused a 20% drop in Tesla's share price

Elon Musk's Twitter poll provoked the first drop in Tesla's share price of more than 15% over the past week. He decided to ask his followers whether he should sell 10% of Tesla to pay taxes.

More than 3.5 million people participated in the survey, and 58% of subscribers voted for such an idea.  As a result, for the first time in more than five years, Elon Musk sold 6.36 mln of his company's shares worth about $6.9 billion.      

A second 5% drop in the share price was reported this Monday following a Twitter confrontation between Elon Musk and Senator Bernie Sanders, in which Musk threatened to sell even more Tesla stock.

Senator Sanders is known for his socialist ideas, so he has pungently stated that only rich people should pay their "fair share" of taxes.

 “Want me to sell more stock, Bernie?' Just say the word,” Musk taunted, once again provoking a new collapse in the share price of the world's largest electric car company.

 Previously, Sanders has repeatedly made negative comments about Tesla, comparing it to a huge bubble of risky assets, among which he counts stocks and virtual assets.

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