Elon Musk Twitter Poll Sparks Tesla Sell-Off

<p><a href="https://admiralmarkets.com/analytics/traders-blog/tesla-share-price-november-2021"><picture class="lozad" data-iesrc="https://fxmedia.s3.amazonaws.com/articles/EN_-_Fundamental_analysis_(2)-min_(2).jpg" data- data- data-alt="Trading News 9 November" data-height="376" data-width="800"><source type="image/webp" media="(min-width: 640px)" srcset="https://dqvh7oj3vu3ch.cloudfront.net/720x,webp/fxmedia.s3.amazonaws.com/articles/EN_-_Fundamental_analysis_(2)-min_(2).jpg"></source><source type="image/webp" media="(max-width: 639px)" srcset="https://dqvh7oj3vu3ch.cloudfront.net/375x,webp/fxmedia.s3.amazonaws.com/articles/EN_-_Fundamental_analysis_(2)-min_(2).jpg"></source></picture></a></p><p>After spending much of the last few weeks in the news due to its incredible bullish run in the stock market, Tesla is once again making headlines, this time thanks to the antics of eccentric CEO, Elon Musk.</p><p>Yesterday, the electric vehicle manufacturer suffered its worst daily performance in the stock market for over a year, with share price plummeting more than 12% during the session. This means that, in just two days, Tesla’s share price has fallen more than 16% – shaving off around $200 billion from the company’s market capitalisation in the process.</p><p>The consecutive days of declines come after Musk posted a poll on his Twitter account over the weekend asking his followers whether they thought he should sell 10% of his shares in the company. The poll closed with 58% of voters supporting the proposed sale.</p><p>Unsurprisingly, in response to the poll, a sell-off ensued which has been further exacerbated by the news that several other board members, including Musk’s brother Kimbal, have recently filed to sell almost $1 billion worth of Tesla shares between them.</p><p>As well as negatively impacting the share price, the saga also raises questions as to whether Musk’s twitter activity is in breach of a previous settlement with the US Securities and Exchange Commission (SEC) – in which he was fined $20 million and forced to step down as Tesla Chairman.</p><p>Despite the drastic drop in share price, Tesla remains up around 45% year-to-date. However, investors are likely to remain braced for further turbulence, whilst watching closely for any clues as to Musk’s next move. In the meantime, we can expect more volatility in the Tesla share price and potentially further falls, particularly if – and when – the sale of Musk’s shares materialises.</p><figure><a href="https://admiralmarkets.com/analytics/traders-blog/tesla-share-price-november-2021"><picture class="lozad" data-iesrc="https://fxmedia.s3.amazonaws.com/articles/Tesla_Daily_Chart-3.png" data- data- data-alt="Tesla Daily Chart" data-height="574" data-width="1241"><source type="image/webp" media="(min-width: 640px)" srcset="https://dqvh7oj3vu3ch.cloudfront.net/720x,webp/fxmedia.s3.amazonaws.com/articles/Tesla_Daily_Chart-3.png"></source><source type="image/webp" media="(max-width: 639px)" srcset="https://dqvh7oj3vu3ch.cloudfront.net/375x,webp/fxmedia.s3.amazonaws.com/articles/Tesla_Daily_Chart-3.png"></source></picture></a>
<figcaption><em>Depicted: Admirals <a href="https://admiralmarkets.com/trading-platforms/metatrader-5" target="_blank" rel="noopener">MetaTrader 5</a> – Tesla Daily Chart. Date Range: 30 November 2020 – 9 November 2021. Date Captured: 10 November 2021. Past performance is not a reliable indicator of future results.</em></figcaption>
</figure><p> </p><p><b>Five year evolution of the Tesla share price:</b></p><ul>
<li>2020 = +742.62%<b></b></li>
<li>2019 = +27.21%<b></b></li>
<li>2018 = +5.89%<b></b></li>
<li>2017 = +46.38%<b></b></li>
<li>2016 = -11.38%<b></b></li>
</ul><p>With the <a href="https://admiralmarkets.com/start-trading" target="_blank" rel="noopener">Trade.MT5</a> account from Admirals, you can trade Contracts for Difference (CFDs) on Tesla and over 3,000 other shares from 15 of the largest stock exchanges in the world! CFDs allow traders to attempt to profit from both rising and falling prices, whilst also benefiting from the use of leverage. Click the banner below in order to open an account today:</p><p></p><div><div><span>Stock and ETF CFDs</span><p>Trade CFDs on Stocks and ETFs with Admirals</p><a target="_blank" href="https://admiralmarkets.com/start-trading">START TRADING</a></div><div><a target="_blank" href="https://admiralmarkets.com/start-trading"><a href="https://admiralmarkets.com/analytics/traders-blog/tesla-share-price-november-2021"><picture class="lozad" data-iesrc="https://dce5jani6jm7e.cloudfront.net/data/education/articles/demo_account.svg" data- data- data-alt="Stock and ETF CFDs" data-height="" data-width=""><source type="image/webp" media="(min-width: 640px)" srcset="https://dqvh7oj3vu3ch.cloudfront.net/720x,webp/dce5jani6jm7e.cloudfront.net/data/education/articles/demo_account.svg"></source><source type="image/webp" media="(max-width: 639px)" srcset="https://dqvh7oj3vu3ch.cloudfront.net/375x,webp/dce5jani6jm7e.cloudfront.net/data/education/articles/demo_account.svg"></source></picture></a></a></div></div><p> </p><p><b><em>INFORMATION ABOUT ANALYTICAL MATERIALS:  </em></b></p><p><em>The given data provides additional information regarding all analysis, estimates, prognosis, forecasts, market reviews, weekly outlooks or other similar assessments or information (hereinafter “Analysis”) published on the websites of Admirals investment firms operating under the Admirals trademark (hereinafter “Admirals”) Before making any investment decisions please pay close attention to the following:  </em></p><ol>
<li><em>This is a marketing communication. The content is published for informative purposes only and is in no way to be construed as investment advice or recommendation. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and that it is not subject to any prohibition on dealing ahead of the dissemination of investment research. </em></li>
<li><em>Any investment decision is made by each client alone whereas Admirals shall not be responsible for any loss or damage arising from any such decision, whether or not based on the content. </em></li>
<li><em>With view to protecting the interests of our clients and the objectivity of the Analysis, Admirals has established relevant internal procedures for prevention and management of conflicts of interest. </em></li>
<li><em>The Analysis is prepared by an independent analyst Roberto Rivero, Freelance Contributor (hereinafter "Author") based on personal estimations. </em></li>
<li><em>Whilst every reasonable effort is taken to ensure that all sources of the content are reliable and that all information is presented, as much as possible, in an understandable, timely, precise and complete manner, Admirals does not guarantee the accuracy or completeness of any information contained within the Analysis. </em></li>
<li><em>Any kind of past or modelled performance of financial instruments indicated within the content should not be construed as an express or implied promise, guarantee or implication by Admirals for any future performance. The value of the financial instrument may both increase and decrease and the preservation of the asset value is not guaranteed. </em></li>
<li><em>Leveraged products (including contracts for difference) are speculative in nature and may result in losses or profit. Before you start trading, please ensure that you fully understand the <a href="https://admiralmarkets.com/risk-disclosure" target="_blank" rel="noopener">risks involved</a>.</em></li>
</ol>