Tesla CEO Elon Musk: 'Coronavirus panic is dumb'
The coronavirus outbreak has interrupted global supply chains
Tesla CEO Elon Musk dismissed global concerns about the coronavirus outbreak as “dumb” in a Twitter post Friday.
“The coronavirus panic is dumb,” Musk wrote. He did not elaborate on the remark.
The coronavirus outbreak has interrupted global supply chains and prompted companies around the world to take precautionary measures to protect their employees. Apple, Starbucks and Nike were among the companies to see a material business impact from coronavirus.
ELON MUSK BACKS TWITTER CEO JACK DORSEY AS ACTIVIST INVESTOR CIRCLES
Tesla shares fell nearly 3 percent in trading Friday amid losses in the broader U.S. market.
The outbreak also created supply chain issues for Tesla. The electric car marker admitted to using an older version of a control chip in Shanghai-made Model 3 sedans due to coronavirus-related disruption.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
"We are deeply sorry for the confusion we have caused to some Tesla owners," Tesla said in a statement on Chinese social media platform Weibo, according to Nikkei Asian Review.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| TSLA | TESLA INC. | 162.13 | +17.52 | +12.12% |
WHAT IS ELON MUSK'S NET WORTH?
As of Friday afternoon, there were more than 99,000 confirmed cases of coronavirus around the world. At least 3,403 people have died from the virus.
To date, U.S. authorities have reported 244 individual cases and 12 deaths.