ladbible logo

To make sure you never miss out on your favourite NEW stories, we're happy to send you some reminders

Click 'OK' then 'Allow' to enable notifications

One Man's Tweet Made A Company Lose Over £400million In Stock

One Man's Tweet Made A Company Lose Over £400million In Stock

Wow. Just wow!

Mel Ramsay

Mel Ramsay

The power of social media is now more important than ever. If used correctly, it can spread happiness, earn you shitloads of money and even improve lives.

However, occasionally people use social media badly. This can range from being outed as a cheat to, you know, losing another company over £400 million worth of stock.

Yes, that actually happened.

Elon Musk, co-founder, CEO and product architect of Tesla Motors, sent out the following tweet:


Credit: Twitter

To the average Twitter user, this isn't that big. Okay, Tesla is working exclusively with Panasonic... and what? What does it matter?

Turns out, quite a lot actually.

We need a bit of backstory. Basically, rumours had been flying about that Samsung SDI, a company associated with Samsung that makes batteries and displays, was working with Tesla (Elon Musk's company) for batteries in the upcoming Model 3 electric car.

However, clearly that's not the case. Following this tweet, Samsung SDI's stock plunged eight percent this morning - which equates to losing around $580 million (£400 million).

On the other hand, Panasonic added about $800 million (£550 million) in the same time frame.

Damn. Talk about winners and losers in the stock market. I make that a massive win for Japan and a fail-and-a-half for South Korea.

The thing is, Bloomberg has now found out that Samsung might still be working with Tesla on their energy products. Maybe some of those losses can be sorted with another tweet? I'm looking at you, Elon.

Words by Mel Ramsay

Featured image credit: PA images

Featured Image Credit:

Topics: Tweet, Tweets, Samsung