Tesla's shares tumbled almost 3.03% after CEO Elon Musk announced on Twitter that the contract to sell 100,000 cars to Hertz had not been signed yet.
This tweet not only states that the contract is not inked, but also hints that the deal might not be even finalized. Shortly after the tweet, The California-based firm's shares sunk.
The EV firm a week ago hit a milestone of a $1 trillion market cap after securing its biggest-ever order from rental car company Hertz.
Following the tweet, Hertz commented in an email:
"As we announced last week, Hertz has made an initial order of 100,000 Tesla electric vehicles by the end of 2022 and is investing in new EV charging infrastructure across the company's global operations. Deliveries of the Teslas already have started, and consumer reaction to our commitment to lead in electrification has been beyond our expectations."
According to StockApps.com data, Tesla has the highest price-to-earnings (PE) ratio among the world's top ten companies by market cap. Like last week, the price-to-earnings ratio of the tech giant hit 473 or seven times more than the second-ranked Amazon. However, the EV giant ranked thirty-eight places on the global PE ratio list.
Yesterday, The TechnoKing of Musk has vowed to sell and donate $6 billion worth of Tesla's stocks to end world hunger, only if the UN agency explained how it will be spent.
