ELON MUSK: Tesla's stock price is 'low if you believe in Tesla's future' (TSLA)

pulse

July 17, 2017 10:23 PM

His Tweet was a clarification of earlier comments made at the National Governors Association summer meeting over the weekend.

Elon Musk took to Twitter on Monday to clarify comments that appeared to talk down Tesla's share price.

The Tweet was a clarification of earlier comments made at the

according to video from CNBC.

Shares of Tesla sank following the comments. Tesla also had to contend with reports that a Tesla had crashed over the weekend while its Autopilot system was engaged.

Musk clarified on Twitter that Tesla's stock is priced high based on the past and the present, but not if you believe in the company's future. Musk has pitched a vision for Tesla where it owns the solar panels that charge a fleet of autonomously driving Teslas that come and pick you up at the touch of a button.

Investors regularly price in their expectations for the future of a stock. After it was announced that Tesla expects to be producing 20,000 of its new Model 3 a month by the end of the year, shares popped. Shares also rose on news of an expanded service fleet, and huge battery installation in South Australia.

Shares of Tesla have grown 48.82% this year.

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