Elon Musk's tweet wipes $14 billion off Tesla market value

WIN MCNAMEE / GETTY IMAGES NORTH AMERICA / Getty Images via AFP

Elon Musk has managed to wipe out $14 billion off Tesla's market value after tweeting that its share price was overly expensive.

“Tesla stock price too high, imo,” he wrote on Twitter, adding that he wanted to sell his possessions, including his house.

Shares of Tesla tumbled nine per cent on Friday and even knocked $3 billion off Musk's own stake in the electric carmaker.

Back in 2018, Musk's tweet about Tesla "going private, funding secured" at $420 a share had cost him his role as chairman.

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