Tesla shares has plummeted fell about 9% on Monday morning as investors were spooked by a Twitter poll by the EV maker Elon Musk's sale of about a tenth of his holdings, Reuters reported.
Yesterday, the richest man in the world turned to his 62.5 million Twitter followers to get their opinion on whether he should sell 10 percent of the EV maker's stock.
Almost 57.9% of the respondents answered that Musk should sell 10 percent of his shares. Thus triggering the sale of Tesla's shares listed in Frankfurt.
Musk owns about 170.5 million of Tesla's shares as of June 30 and selling 10 percent of his stock would amount to close to $21 billion based on Friday's closing, according to Reuters.
This comes in the aftermaths of the TechnoKing vow to sell and donate $6 billion worth of Tesla's stocks to end world hunger, only if the UN agency explained how it will be spent.
The UN food scarcity official had said to CNN that just 2 percent of Musk's net worth of $311 billion can help solve world hunger. Musk took aim at the World Food Program challenging them in a tweet to back up their claim, promising to sell stocks of his electric-vehicle company.
Last week, Tesla's shares tumbled almost 3.03% after Musk announced on Twitter that the contract to sell 100,000 cars to Hertz had not been signed yet.
The EV firm a couple of weeks ago hit a milestone of a $1 trillion market cap after securing its biggest-ever order from rental car company Hertz.
It's worth mentioning that according to StockApps.com data, Tesla has the highest price-to-earnings (PE) ratio among the world's top ten companies by market cap. Like last week, the price-to-earnings ratio of the tech giant hit 473 or seven times more than the second-ranked Amazon. However, the EV giant ranked thirty-eight places on the global PE ratio list.
