Elon Musk has long been able to claim the title of no less odious billionaire than Donald Trump. Of course, these two businessmen are difficult to compare, but their actions which become public often cause confusion. You have to ask yourself, "What is this? The childishness of an odious billionaire, or a precisely calculated step that will allow him to earn several tens of billions of dollars or achieve other goals?" Back in 2018, Elon Musk was obliged to give all messages and statements that somehow related to Tesla to the lawyers for verification. This happened after in August of the same year, Musk wrote on his Twitter that he wanted to buy back the shares at $ 420, which was then much higher than their market value. As a result, Tesla shares soared by 10%. Something similar already happened with bitcoin a few weeks ago, when Musk commented twice on this cryptocurrency, as a result of which it soared in value by $ 10,000. Thus, this is not the first time that Musk has done such a trick, and some experts accuse him of manipulating the market. Well, what is it if not manipulation? Imagine if Bill Gates or Jeff Bezos made loud statements about their companies or stocks every other day? After all, these people are listened to by the whole world and, in particular, by investors who own shares in their companies. Accordingly, they regard everything that has been said by such high-ranking and famous businessmen as very serious information and react to it. For Musk to make such comments (in some ways in the style of Donald Trump) is absolutely normal. Then, in 2018, Musk was worth $ 20 million for comments about a possible share buyback at $ 420, which fell in price by $ 22 the day after Musk said he was abandoning the idea, and brought losses to investors. But what is $ 20 million for the head of Tesla and SpaceX? This time, investor Chase Garrity sued Elon Musk again over the Tesla CEO's erratic tweets. According to the complainant, all of Musk's "erratic tweets" expose the company and, as a result, its investors to billions of dollars of risks can also have a very serious and negative impact on the financial condition of the electric car manufacturer, which recently began investing in bitcoin, and receives most of its profits from the sale of energy loans to other automakers. Garrity also says that this is not the only case when the words of Musk, who in agreement with the US Securities Commission must coordinate each of his statements about Tesla led to a drop in quotations. In 2020, Musk said that he believed Tesla shares were overvalued, which also led to a drop.
As for the technical picture, Tesla shares have recovered slightly over the past week, as investors used the low levels for new purchases. Also, the information about the growth of car sales in China became an incentive for buying Tesla shares. However, most experts are inclined to believe that the downward trend has not yet been broken, which means that the shares of the electric car manufacturer may continue to fall. At the moment, the price could not even work out the lower line of the Ichimoku Cloud, and the entire drop in the company's quotes looks very convincing. If the price is fixed below the Kijun-sen line, we recommend selling the shares of Tesla again.
