Elon Musk, Tesla CEO, took Twitter on Friday 26th 2021, saying that “I think there is a >0% chance Tesla could be the biggest company.” He seemed to give a timeline for the anticipated increase in a now-deleted second tweet, saying it could be achieved “Probably within a few months.”
Musk’s views could be interpreted as an indicator of Tesla’s gains in the coming months, a welcome reprieve for investors after the company’s declining stock price in the last month. Tesla (NASDAQ: TSLA) closed at $618.71 at the end of the trading session on Friday, 26th March 2021. This was a $21.68 slip from the $641.87 opening market price, translating to a 3.39% drop.
Meanwhile, Apple (NASDAQ: AAPL) continued its impressive performance on the market, closing at $121.21, a $0.62 gain, at the close of Friday’s trading session. With the rumored release of ruggedized Apple watch and iPhone 13 later in the year, Apple is poised to continue gaining in the market well into 2022.
Despite the current declining performance on the market, Musk’s tweets might suggest something in the works that could mean a leap in Tesla’s stock price in the near future.
Musk is known for his unrestrained use of Twitter, airing sometimes “controversial” views about his company. He has brushed with the US Securities and Exchange Commission for his unfettered use of the social platform in the past. For example, his tweet about taking his company private at $420 a share in 2018 led to a steep stock increase and eventually a settlement with SEC.
It’s no doubt Tesla and Apple are among the major market movers. Given that Tesla’s stocked peaked to a new high this year, catapulting Musk to the wealthiest person globally (now third on the list), his recent remarks on Twitter should not be taken lightly.
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