Current:Home > Stocks'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all -Infinite Edge Capital
'As foretold in the prophecy': Elon Musk and internet react as Tesla stock hits $420 all
View
Date:2025-04-14 19:43:07
Tesla's stock price reached $420 on Wednesday afternoon, which elicited responses from social media users and the company's CEO, Elon Musk.
"As foretold in the prophecy," Musk wrote in an X post that included a screenshot of the stock.
Tesla stock has reached the threshold previously, but Wednesday marked the first time the share price crossed the $420 threshold since the stock split in August 2022.
Musk in 2018 teased he was "considering taking Tesla private" if the share price hit $420, but the company is still publicly traded despite crossing the meme-ified benchmark more than once.
A jury found Musk not liable for misleading investors after the 2018 tweet, in which he stated he had "funding secured" to take the company private.
Invest wisely:Best online brokers
Tesla's 70% year-to-date share price surge comes after Musk, who is the founder of SpaceX and owner of X, was named the co-leader of the Department of Government Efficiency, or D.O.G.E.
Musk and entrepreneur Vivek Ramaswamy were tapped to lead DOGE by President-elect Donald Trump. According to Trump, DOGE will provide advice and guidance from outside of the government, and it will partner with the White House and the Office of Management and Budget to "drive large scale structural reform, and create an entrepreneurial approach to Government never seen before."
Tesla also had its "We, Robot" event, where Musk unveiled a self-driving taxi and further showcased the company's humanoid robot named Optimus.
Tesla has gone through stock splits: What is that?
A stock split occurs when a company's board decides to increase the number of outstanding shares in the company by issuing new shares to existing shareholders in a set proportion, thus decreasing current share prices, according to the Financial Industry Regulatory Authority.
Tesla has done a stock split twice before, on Aug. 31, 2020, and two years later on Aug. 25, 2022. A stock split would not change the company's market value, instead, it would make the stock more attractive to a wider net of investors by lowering the share price.
A short-term effects of a stock split can be to "generate buzz," which can cause share prices to increase for a little while, as Forbes reports. A long-term impact would be to hold the company's share price low, but this would only benefit the company if it continues to deliver acceptable shareholder returns.
'Tesla stock is shooting up again!'
Musk is not the only one chiming in on this victory for Tesla, as X users have also voiced their thoughts, with some cheering on the company as the stock price reaches all-time highs.
Disclaimer: The copyright of this article belongs to the original author. Reposting this article is solely for the purpose of information dissemination and does not constitute any investment advice. If there is any infringement, please contact us immediately. We will make corrections or deletions as necessary. Thank you.
veryGood! (68557)
Related
- Senate begins final push to expand Social Security benefits for millions of people
- 'Just the beginning': How push for gun reform has spread across Tennessee ahead of special session
- 2 men jump overboard when yacht goes up in flames off Maine coast
- The echo of the bison
- From family road trips to travel woes: Americans are navigating skyrocketing holiday costs
- Jennifer Lopez shares photos from Georgia wedding to Ben Affleck on first anniversary
- Whose seat is the hottest? Assessing the college football coaches most likely to be fired
- Virginia judge largely sides with ex-patients in hospital’s effort to pare down lawsuit abuse claims
- Former longtime South Carolina congressman John Spratt dies at 82
- Hundreds of unwanted horses end up at Pennsylvania auctions. It may mean a death sentence
Ranking
- The city of Chicago is ordered to pay nearly $80M for a police chase that killed a 10
- Italian official calls tourists vandals after viral incidents: No respect for our cultural heritage
- 'Disgusting hate:' California shop owner killed over Pride flag
- Save 42% On That Vitamix Blender You’ve Always Wanted
- Grammy nominee Teddy Swims on love, growth and embracing change
- SpaceX launch livestream: Watch 21 Starlink satellites lift off from California
- How to turn modest retirement contributions into a small fortune over time
- Prosecutor releases video of fatal police shooting that shows suspect firing at officer
Recommendation
Meta donates $1 million to Trump’s inauguration fund
The initial online search spurring a raid on a Kansas paper was legal, a state agency says
Sarah Hyland confronted by 'Love Island' contestant for 'disrespectful' comment: Watch
King Charles III carries on legacy of mother Queen Elizabeth II with Balmoral Castle ceremony
Who are the most valuable sports franchises? Forbes releases new list of top 50 teams
3 deaths linked to listeria in milkshakes sold at Washington restaurant
Nissan recalls more than 236,000 cars over potential steering issues
Firefighters battle apartment fire in Maryland suburb