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Tesla stock continues to dip after Elon Musk tweets at Bernie Sanders

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  • RIVN
  • LCID
  • TSLA

Yahoo Finance Live's Brian Sozzi and Julie Hyman discuss Tesla shares continuing to decline following founder Elon Musk's Twitter spat with Senator Bernie Sanders (D-VT).

Video Transcript

JULIE HYMAN: And then another sort of a mover I'm watching this morning, certainly a story I'm watching this morning is Tesla. The stock fell 15% last week. That was its worst week since March of 2020. And Elon Musk tweeting at Bernie Sanders over the weekend because this guy just can't resist himself.

So Bernie Sanders had tweeted about taxes here, saying we must demand that the extremely wealthy pay their fair share, period. Didn't tag Elon Musk, although obviously Musk is very wealthy. And Elon Musk fires back, "I keep forgetting that you were still alive." I just don't even know what to say about that. But like, yeah, I don't even know. But we can--

BRIAN SOZZI: It crossed a line, Julie. He crosses a line. He just broke a-- I think he broke a Twitter rule here. I think this was a little over the edge even for Elon.

JULIE HYMAN: He's gone there before. So it's not necessarily surprising. He also mentioned that he would be probably selling some more of his shares or he might be selling more of his shares. He sold $7 billion worth of his shares last week.

You know what I was reminded about, Brian Sozzi? Remember when Musk tweeted about his stock being too high? Do you recall that.

BRIAN SOZZI: I do. I do. It was a big moment.

JULIE HYMAN: It was May 1, 2020. Do you know what the stock has done since then?

BRIAN SOZZI: Talk to me.

JULIE HYMAN: It's up almost 700%. So if it was too high then, maybe Elon's happy to see the stock price go down. If he thought it was too high, then--

BRIAN SOZZI: He's happy about that Lucid award?

JULIE HYMAN: Well, that's something else, right? Yeah.