Tesla will overtake Apple in the next few months

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2021-03-29 16:14:51

On March 26, CEO of electric car maker Tesla – Elon Musk made a remarkable statement when replying to a Twitter post about the possibility of Tesla’s capitalization surpassing Apple. Specifically, the billionaire commented: “I think there is> 0% chance that Tesla will become the biggest company”. Not stopping there, Musk also posted additional comment “could happen in the next few months”.

Elon Musk’s attention-grabbing statement.

This shows that he is confident that his company will surpass the two “big” with the largest market value in the world today, Apple and Saudi Aramco. According to CNBC, this prediction tweet was later deleted. However, users quickly took screenshots and shared widely on Twitter.

Right now, Apple’s market capitalization stands at $ 2.03 trillion and Saudi Aramco is $ 1.85 trillion. Meanwhile, Tesla’s market cap “just” reached $ 593.8 billion. Many people questioned how Tesla was able to catch up and even surpass Apple and Saudi Aramco in a matter of months, according to Musk.

Elon Musk announced: Tesla will overtake Apple in the next few months - Photo 2.

This is not the first time Musk has spontaneously spoken about the stock market on Twitter. In the past, the US Securities and Exchange Commission (SEC) has repeatedly clashed with Musk and Tesla over the CEO’s uncontrollable use of Twitter.

In the third quarter of 2018, Musk faced a lawsuit from the SEC when it announced plans to buy Tesla stock for $ 420 per share, making Tesla a private company. This caused Tesla’s stock price to rise 6% that day. The SEC accused Musk of “securities fraud.”

As a result, in September 2018, Musk and Tesla reached a settlement in which the CEO and company each had to pay a fine of $ 20 million. At the same time, Musk had to step down as chairman of Tesla and adhere to the new rules.

Specifically, Tesla has an obligation to approve all written information, including posts on social media, especially posts with material content about Musk’s company. However, in early 2019, Musk was alleged by the SEC to violate the agreement by tweeting about the number of Tesla products manufactured.

Last May, a Tesla shareholder named Chase Gharrity filed a lawsuit with the Delaware Chancery Court over Musk’s Twitter post that “Tesla’s stock price is too high” that caused him and his shareholders to lose their goods. billion USD. Instantly, Tesla shares fell 10 percent, blowing away the company’s $ 13 billion market cap. In addition to Tesla’s stock price, Musk’s posts have repeatedly caused Bitcoin’s price to fluctuate.

Most recently, on March 25, the US National Labor Relations Commission (NLRB) ordered Tesla to ask Musk to remove a tweet from 2018 that allegedly contained a threat to employees. The NLRB sets a deadline for Tesla and Musk to comply with the above requirement. However, so far this tweet has not been deleted from Twitter. In addition, the NLRB also requires Tesla to re-recruit an employee who was illegally fired that year as well as compensate this person for loss of income and taxes.

Source: CNBC

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