May 1, 2020 - Economy & Business

Tesla stock plunged after Elon Musk tweeted it was “too high”

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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Joann Muller
Jul 26, 2020 - Politics & Policy

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.

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Axios
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.

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Rashaan Ayesh
59 mins ago - Politics & Policy

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.

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