In the early hours of Sunday, Tesla Inc (NASDAQ:TSLA) CEO, Elon Musk took to Twitter to share some of his investment tips.
He advised his followers to buy stocks in companies that make products and services they believe in as a long-term strategy.
Since I’ve been asked a lot:— Elon Musk (@elonmusk) May 1, 2022
Buy stock in several companies that make products & services that *you* believe in.
Only sell if you think their products & services are trending worse. Don’t panic when the market does.
This will serve you well in the long-term.
People started responding to his tweet. Here is what one of his followers said:
Bro you just sold $TSLA stock last week. You know very well that there are other reasons to sell stock besides products & services trending worse. Clarify that, before some idiot writes an article headlined:— Stock Talk Weekly 🎙 (@stocktalkweekly) May 1, 2022
“ELON SELLS TESLA STOCK & SAYS ONLY SELL IF BUSINESS IS TRENDING WORSE”
Last week, Musk sold 9.6 million shares of Tesla stock, valued at $8.5 billion, and he wrote on Twitter that "No further TSLA sales planned after today."
Tesla shares, which have plunged 20% in the past month. Musk's share sale comes amid his bid to buy Twitter for $44 billion.
Musk has already secured $25.5 billion of fully committed debt, including $12.5 billion in loans against his Tesla stock.
On Twitter, people started comparing his decision to sell Tesla stocks and how he gives advice on managing his stock portfolio.
that's why you sold several billion of your tesla stock shares ?! 😅— MyCryptoVision (@My_cryptovision) May 1, 2022
Here is how another user reacted.
One of his follower asked for his advice on Dogecoin (CRYPTO: DOGE) as well.
Tell me what to do with Dogecoin.— Altcoin Daily (@AltcoinDailyio) May 1, 2022
Musk has yet to respond with his investment outlook for DOGE. The crypto is trading at $0.1316, down 1.75% in the past 24 hours.