"No Contract Signed With Hertz": Elon Musk's Tweet Halts Tesla's Rally
NDTV
Tesla's shares fell four per cent in early trading on Tuesday, after a steep jump following the news of the biggest-ever order - 100,000 electric cars for Hertz - on Oct. 25, which helped Tesla breach $1 trillion in market capitalization.
Tesla Inc's top boss Elon Musk said the company had not signed a contract with Hertz, more than a week after the car rental firm announced a massive deal with the electric carmaker.
Tesla's shares fell four per cent in early trading on Tuesday, after a steep jump following the news of the biggest-ever order - 100,000 electric cars for Hertz - on Oct. 25, which helped Tesla breach $1 trillion in market capitalization.
Musk tweeted late Monday, "If any of this is based on Hertz, I'd like to emphasize that no contract has been signed yet."
"Hertz deal has zero effect on our economics." Tesla did not immediately respond to a request for comment. However, Hertz said in a statement that the deliveries of the Teslas had already started.
