Tesla skids 4% on Musk tweet that Hertz deal not signed

Published November 2, 2021 7:02 AM

By MATT OTT
AP Business Writer

SILVER SPRING, Md. (AP) — Shares of Tesla Inc. tumbled around 4% in premarket trading after its CEO and founder Elon Musk tweeted that a deal to sell 100,000 cars to Hertz had not been signed, suggesting it was not final. Shortly after the market close yesterday, an account called “Tesla Silicon Valley Club” tweeted an image of a graph showing Tesla’s 8.5% gain Monday and thanked Musk. Musk replied “You’re welcome! If any of this is based on Hertz, I’d like to emphasize that no contract has been signed yet.” Shares of Tesla fell 4.6% in off-hours trading Tuesday, to $1,153 per share.

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