In a message on the social network Twitter, the founder of Tesla, Elon Musk, says that the stock market valuation of his car company, now higher than that of Renault, PSA and Volkswagen combined, is too high. This was enough to make Tesla's share price plunge by more than 10% on Wall Street in early May.
In recent months, Tesla's promising results had caused its stock price to skyrocket, bringing its market valuation to some $147 billion, more than Renault, PSA and Volkswagen combined. But in addition to the billions of market capitalization gone up in smoke, this tweet is likely to attract, once again, the wrath of the SEC, the U.S. financial markets authority, which is very fussy about the communication of information that has consequences on the evolution of the stock market.
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