Tesla CEO Elon Musk. Photo: Yasin Ozturk/Anadolu Agency via Getty Images

Tesla's share price dropped at least 12% Friday after CEO Elon Musk tweeted the price was "too high."

By the numbers: The stock was trading at 760.23 just before Musk's tweet, per CNBC. It plunged to 717.64 and continued to drop.

The tweet was part of a series of posts that included Musk saying he was "selling almost all physical possessions."

The big picture: Tesla posted profits for the third quarter in a row on Wednesday, but said the coronavirus pandemic was likely to disrupt its operations.

  • On an earnings call that day, Musk called stay-at-home orders, which were implemented in response to the coronavirus pandemic, "fascist" and "an outrage."

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Tesla's election-year gift to Texas

Illustration: Sarah Grillo/Axios

Tesla's decision to build a $1 billion factory in Texas is a good bit of economic news for a state that's suffering in the throes of the pandemic.

Why it matters: The creation of 5,000 new manufacturing jobs near Austin comes as the state's ongoing coronavirus outbreak threatens to overwhelm hospital systems and tears at the economy.

Updated 21 mins ago - Health

World coronavirus updates

Data: The Center for Systems Science and Engineering at Johns Hopkins; Map: Axios Visuals

France reported more than 2,500 new COVID-19 cases in 24 hours — the largest single-day number since May. French officials said the situation was "clearly worsening," per France 24.

By the numbers: Over 745,600 people have died of the novel coronavirus globally and over 20.4 million have tested positive, per Johns Hopkins. Almost 12.7 million have recovered from the virus.

Biden campaign raises $26 million in 24 hours after announcing Harris as running mate

Joe Biden and Kamala Harris. Photo: Olivier Douliery/AFP via Getty Images

Joe Biden's campaign announced on Wednesday that it raised $26 million in the 24 hours after revealing Sen. Kamala Harris as his vice presidential pick.

Why it matters: The cash influx signals that Harris has helped the Democratic presidential campaign pick up steam. Nearly 150,000 contributors were first-time donors, according to the campaign statement.