Tesla stock collapsed after Elon Musk lost $ 15B in one day

Tesla’s stock price dropped for a fourth day on Tuesday, when CEO Elon Musk’s total assets exceeded $ 15 billion after a massive plunge on Monday.

Shares of the electric car maker fell 4.9 percent to $ 679.40 in pre-trading as of 8:03 am, putting it on track to start the day below the price after entering the S&P 500 index in December Given.

According to Bloomberg, CEO Elon Musk’s fortunes fell to $ 15.2 billion on Monday after Tesla shares fell 8.5 percent, leaving him once again behind Amazon boss Jeff Bezos. Billionaire index.

Kasturi can only blame himself. After its Saturday tweet to Tesla’s stock, the tanker announced that bitcoin and ether prices – the world’s two largest cryptocurrencies – “look high,” questioning the automaker’s $ 1.5 billion investment in the former .

Tesla booked an estimated $ 1 billion in paper profits when it bought bitcoin two weeks ago, before Musk’s Post helped bring down the price of digital coins, which fell below $ 50,000 early Tuesday morning.

Elon Musk called cryptocurrency
Elon Musk called cryptocurrency “a less dumb form of liquidity than cash”.
REUTERS / Dedo Rouvik

Tesla shares have sunk more than 20 percent since the Silicon Valley titan revealed its blockbuster bet on cryptocurrency, which Musk called “a less dumb form of liquidity than cash”.

But the billionaire tech tycoon was defiant on Tuesday. When market strategist Peter Schiff reported on Twitter that Tesla’s stock had entered a bear market since the announcement of bitcoin, Musk simply Replied With an eggplant emoji, which Schiff meant was “basically calling me a dick.”

Tesla also took a hit on Monday after the electric-vehicle news outlet Electrec reported The company stopped taking orders for the cheapest version of its Model Y SUV.

Tesla shares slipped 4.9 percent to $ 679.40 as of 8:03 am in prepaid trading
Tesla shares slipped 4.9 percent to $ 679.40 as of 8:03 am in prepaid trading
Michael Reynolds / EPA

Musk appeared Confirm news On Twitter, stating that he “has not yet met the Tesla standard of excellence, in range, in many drive situations.” He added that the model was still available with a “closed menu”.

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