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Trading  | July 17, 2017

The best way to get Elon Musk tweeting, is for TSLA stock to be red on the day, and sure enough moments ago the billionaire CEO of Tesla could not containt himself, when in response to an (erroneous) tweet that “Tesla is dropping after @elonmusk says the stock price is ‘higher than we have any right to deserve'” (as noted here first, TSLA tumbled on the news of yet another alleged Tesla autopilot-induced crash), Musk responded that “I should clarify: Tesla stock is obviously high based on past & present, but low if you believe in Tesla’s future. Place bets accordingly …”

Judging by the 2.5% drop in TSLA shares, at least today there were fewer believers in Tesla’s future than those who traded “based on past & present.”

And in a separate tweet, one which did actually address what was bothering Tesla shareholders, Musk responded to another tweet, this time from Electrek which said what we noted earlier this morning, namely that “Tesla Autopilot is being blamed by driver in a rollover crash in Minnesota” saying this was “not true” and tweeted the email from the driver in the alleged autopilot-related crash, according to which “The Tesla driver sent an email to the sheriff and a local media outlet stating that he did not intend to blame Autopilot or Tesla for his accident.”

Which is bizarre because according to the official police report as reported by the press, as recently as thismorning the driver was “blaming the crash on the car’s “autopilot”, according to authorities.

One almost wonders if there was a vigorous back and forth “settlement” negotiation behind the scenes between David Clark and Elon Musk which prompted the former to radically change his story.

More surprisingly however is that the market is not “buying” either Musk’s explanation or the stock following Musk’s tweet.

A revolutionary initiative is helping average Americans find quick and lasting stock market success.

275% in one week on XLF - an index fund for the financial sector. Even 583%, in 7 days on XHB… an ETF of homebuilding companies in the S&P 500. 

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