In the early hours of Sunday, Tesla Inc. (NASDAQ: TSLA) CEO, Elon Musk took to Twitter to share some of his investing tips.
He advised his followers to buy stocks in companies that make products and services they believe in as part of a long-term strategy.
As I have been asked a lot:
Buy stock in multiple companies that make products and services that *you* believe in.
Only sell if you think their products and services tend to deteriorate. Don’t panic when the market does.
It will serve you well in the long run.
— Elon Musk (@elonmusk) May 1, 2022
People started responding to his tweet. Here is what one of his followers said:
brother you just sold $TSLA stock last week. You know very well that there are other reasons to sell stocks besides products and services that tend to deteriorate. Make that clear, before some idiot writes an article titled:
“ELON SELLS TESLA SHARES AND SAYS TO SELL ONLY IF BUSINESS IS WORSE”
— Stock Talk Weekly 🎙 (@stocktalkweekly) May 1, 2022
Last week, Musk sold 9.6 million Tesla shares, valued at $8.5 billion, and he wrote on Twitter that “no further TSLA sales are expected after today.”
Also Read: Here’s Why AOC Deletes Their Tweet After Musk Told Them ‘Stop Hitting Me’
Shares of Tesla, which have plunged 20% in the past month. Musk’s stock sale comes as part of his $44 billion takeover bid for Twitter.
Musk has already secured $25.5 billion in fully committed debt, including $12.5 billion in loans against his Tesla Stock.
On Twitter, people started comparing his decision to sell Tesla stock and how he advises on managing his stock portfolio.
that’s why you sold several billion of your tesla shares?! 😅
— MyCryptoVision (@My_cryptovision) May 1, 2022
Here’s how another user reacted.
— Fintwit (@fintwit_news) May 1, 2022
One of his disciples asked him his opinion 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.
Also Read: Facebook Whistleblower Optimistic About Musk’s Twitter Move, Says He Can Take Feedback Better Than Zuckerberg
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.