Elon Musk.
Elon Musk. OnInnovation, Flickr

Elon Musk's $777 million disappearing act, using a Tweet

TWEETS have a very real impact on a company's value, if you're Elon Musk that is.

The billionaire Tesla CEO wiped out $US580 million ($AUD777 million) or 8% from Samsung SDI's market value earlier this week, iniating a shareholder frenzy.

Musk used a single tweet to set the record straight following rumours that Tesla was working alongside Samsung on the upcoming Model 3 electric car.

"Would like to clarify that Tesla is working exclusively with Panasonic for Model 3 cells. News articles claiming otherwise are incorrect," Mr Musk tweeted.

Panasonic's market value increased by almost 4 per cent, adding $US800 ($AUD1.07 billion) to its market value, virtually overnight.

It goes to show, people take tweets from technology influencers pretty seriously!

Big Rigs


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