Tesla CEO Elon Musk lost $1.1 billion from his net worth yesterday morning (April 4) amid his court showdown with the Securities and Exchange Commission. In the first few minutes of trading, Tesla stock cratered as much as 11% before staging a tepid recovery by day’s end. Tesla (TSLA) closed on April 4 at $267.78 — down 8.2% on unusually heavy trading volume of 23.7 million shares. Average daily volume is 8.6 million shares. This massive spike in trading activity suggests there was a major sell-off amid Musk’s ugly ongoing feud with the SEC over his Twitter usage. That said,
The post Elon Musk Lost $1 Billion in a Day as Tesla Stock Crashed Amid SEC Court Showdown appeared first on CCN
source https://www.ccn.com/elon-musk-lost-billion-tesla-stock-crash-sec-showdown
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